U.K. Trade Deficit Widens in June


The UK’s deficit on trade in goods and services increased to £4.3 billion in June, up £1.6 billion from £2.7 billion in May.

The UK’s surplus on trade in services increased to £5.8 billion in June, up £0.2 billion compared with May. Exports of services rose by £0.3 billion (1.7 per cent) to £15.8 billion and imports of services rose by £0.1 billion (1.0 per cent) to £10.0 billion.

The UK’s deficit in trade on goods increased by £1.8 billion to £10.1 billion in June compared with May.  Exports of goods fell by £2.2 billion (8.4 per cent), from £25.6 billion in May to £23.5 billion in June. Imports of goods fell by £0.4 billion (1.2 per cent), from £34.0 billion in May to £33.6 billion in June.

The deficit on trade in goods with EU countries increased by £0.5 billion to £4.9 billion in June, compared with the deficit of £4.5 billion in May, as exports fell by £0.9 billion (7.2 per cent) to £11.6 billion, and imports fell by £0.4 billion (2.6 per cent) to £16.5 billion.

The deficit on trade in goods with non-EU countries increased by £1.3 billion to £5.2 billion in June, compared with the deficit of £3.9 billion in May, as exports fell by £1.3 billion (9.6 per cent) to £11.9 billion, and imports were virtually unchanged at £17.1 billion.

The fall in total exports of goods was driven by lower exports of Oil (down £0.9 billion), chemicals (down £0.2 billion), cars (down £0.2 billion).

The fall in total imports of goods was driven by lower imports of Intermediate goods (down £0.3 billion),
Oil (down £0.3 billion), silver (down £0.2 billion). This was partially offset by an increase in imports of   Consumer goods other than cars (up £0.3 billion) and chemicals (up £0.3 billion).


TradingEconomics.com, Office for National Statistics
8/9/2012 9:55:14 AM