07.07.201706:13:00UTC+00UK Trade Deficit Widens In May

The UK trade deficit widened in May from the previous month, figures from the Office for National Statistics showed Friday.

The total trade deficit increased by GBP 1 billion to GBP 3.1 billion in May, reflecting an increase in imports of goods.

The visible trade deficit widened to GBP 11.86 billion from GBP 10.59 billion in April. The expected level was GBP 10.85 billion.

In three months to May, the trade deficit including goods and services rose to GBP 8.9 billion from GBP 6.9 billion in three months to February.

Exports climbed 2.1 percent, while imports gained only 0.8 percent. This has caused the total trade deficit to widen, driven predominantly by increased imports of goods from non-EU countries.