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The UK’s trade deficit narrowed in June, numbers on Friday showed, with exports largely flat on a monthly basis and imports declining.
Its trade deficit with the EU alone widened slightly, however, topping the £12 billion mark for the first time since December.
The UK’s overall trade deficit narrowed to £4.79 billion in June, from £7.66 billion in May. Imports fell 3.9% on-month in June to £71.14 billion from £74.01 billion. Exports were largely unmoved at £66.35 billion from £66.36 billion.
With the EU alone, the trade deficit widened to £12.68 billion in June, from £11.80 billion in May. Imports rose 3.2% to £27.48 billion in June, from £26.64 billion in May. Exports to the EU fell 0.3% monthly to £14.80 billion from £14.85 billion.
The non-EU trade deficit fell to £2.77 billion in June from £6.62 billion in May, beating the FXStreet-cited consensus of £6.39 billion.
Imports from non-EU nations slumped 16% on-month to £19.93 billion. Exports increased by 0.5% to £17.16 billion.
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