The UK's deficit on trade in goods and services narrowed during March to £4 billion.
In February this deficit was £4.3 billion, revised from the originally published figure of £4.4 billion, according to the Office for National Statistics.
In the UK exports rose by less than £0.1 billion and imports fell by a similar figure.
Across the whole of the European Union the deficit widened to £3.7 million compared with £3.5 billion in February.
A rise was seen in both imports and exports of goods, with increased imports of oil and aircraft reported and also more exports of intermediate goods.
The Office for National Statistics said the UK's trade in goods balance with the rest of the world was in deficit of 7.4 billion compared with 7.6 billion in February, revised from 7.5 billion previously.
The latest figure is the smallest deficit since August 2007.
Costs for producers rose at a record pace, reports the BBC. It says that input prices rose 23.3 per cent in the year to April and higher food and fuel prices accounted for the rise in input and output prices.
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