UK Trade Deficit narrows to £3.6 bn in June


The UK’s deficit on trade in goods and services was £3.6 billion in June, compared with a deficit of £3.7 billion in May (previously published as £3.5 billion).

The surplus on trade in services was £2.7 billion, the same as in May.

The deficit on trade in goods was £6.3 billion, compared with a deficit of £6.4 billion in May (previously published as £6.3 billion). Exports rose by £0.9 billion and imports rose by £0.7 billion.

The deficit with the enlarged EU (27 countries including Bulgaria and Romania) was virtually unchanged in June at £2.9 billion. Exports rose by £0.2 billion and imports rose by £0.1 billion. There was an increase in exports of oil but a fall in exports of chemicals. There was a rise in imports of cars but a fall in imports of intermediate goods.

The deficit with non-EU countries narrowed to £3.4 billion compared with the deficit of £3.5 billion in May. Exports rose by £0.7 billion and imports rose by £0.6 billion. There were rises in exports of oil, intermediate goods, and consumer goods other than cars. There were rises in imports of chemicals, oil, and intermediate goods, offset partly by a fall in imports of precious stones.

Excluding oil and erratic items, the volume of exports was three per cent higher in June than in May and the volume of imports was four and a half per cent higher.

 

 


Office for National Statistics
8/9/2007 5:42:17 AM