Removing the effect of inflation, the total trade deficit narrowed £2.0 billion to £2.5 billion in the three months to July 2018.

Excluding erratic commodities (including non-monetary gold), the trade deficit narrowed £0.2 billion to £5.2

billion in the three months to July 2018.

The trade in goods deficit narrowed £1.0 billion with countries outside the EU and widened £0.3 billion with EU countries in the three months to July 2018.

Improvements in the balances of both goods and services in the 12 months to July 2018 resulted in the trade deficit narrowing £13.8 billion to £17.0 billion.