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UK June trade deficit up £2B from May

U.K.'s June trade deficit rose £2.0 billion from the month before to £4.6 billion, as both goods and services imports rose, the Office for National Statistics reported.

The deficit in the second quarter increased by about £100 million from the January-to-March period to £8.9 billion.

In the quarter, exports were up by about £800 million, and imports expanded by about £900 million. Trade in services contributed most to both variations, increasing by about £500 million for both exports and imports.

Exports to EU countries increased by 2.0% quarterly due to increased exports of chemicals and machinery and transport equipment. Meanwhile, exports to non-EU countries declined by 1.4% as exports of machinery and transport equipment, and oil, fell.

The total trade deficits for April and May were revised down by about £300 million and £600 million, respectively, due to an upward revision to April's goods exports data and a downward modification to goods imports of goods in May.

In the quarter ended June, U.K. goods export and import prices rose by 8.2% and 7.8%, respectively, over the previous corresponding period.