- U.K. trade deficit in goods narrows to £8.0 billion in May, the lowest level since June 2013
Market news
10 July 2015
U.K. trade deficit in goods narrows to £8.0 billion in May, the lowest level since June 2013
The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Friday. The U.K. trade deficit in goods narrowed to £8.0 billion in May from £9.8 billion in April. It was the lowest level since June 2013.
April's figure was revised down from a deficit of £8.56 billion.
The decline in the trade deficit was driven by a drop in imports. Imports dropped by 5.5% in May, while exports of goods rose 0.1%.
The total trade deficit, including services, narrowed to £393 million in May from £1.834 billion in April. It was the lowest total trade deficit since June 2013.
April's figure was revised down from a deficit of £1.202 billion.
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