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UK trade deficit narrows in 3 months to July on higher exports

The U.K.'s trade deficit narrowed to £3.36 billion in the three months to July from £4.73 billion in the three months to April as exports of goods and services increased more than imports, the Office for National Statistics said.

Total exports rose to £159.83 billion from £154.68 billion, while total imports increased to £163.19 billion from £159.41 billion. The trade surplus in services increased to £29.20 billion from £28.45 billion, while the goods trade deficit decreased to £32.56 billion from £33.18 billion.

The country's goods trade deficit with EU countries widened by £300 million due to higher imports. The goods trade deficit with non-EU countries narrowed by £1.0 billion.

On a monthly basis, trade deficit narrowed to £111 million in July from £942 million in June due to a rise in services surplus and a decrease in goods trade deficit from the previous month, the ONS said.