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- The total UK trade (goods and services) deficit widened from £6.9 billion to £8.9 billion
The total UK trade (goods and services) deficit widened from £6.9 billion to £8.9 billion
Between the 3 months to February 2017 and the 3 months to May 2017, the total UK trade (goods and services) deficit widened from £6.9 billion to £8.9 billion.
The widening of the trade deficit in the 3 months to May 2017 reflects a higher rise in imports than the rise in exports of goods, in particular transport equipment (cars, aircraft and ships), oil and electrical machinery from non-EU countries; a decrease in exports of services also contributed.
Between the 3 months to February 2017 and the 3 months to May 2017, the total UK trade (goods and services) excluding erratics deficit widened from £8.6 billion to £9.3 billion.
The total UK trade (goods and services) deficit widened by £1.0 billion between April and May 2017 to £3.1 billion, following a narrowing in April 2017; this reflects an increase in imports of goods on the month following a decrease in April 2017.
Import prices increased by 0.5% in the 3 months to May 2017 whereas export prices remained flat; however, excluding the impact of falling oil prices, import and export prices grew by 1.0% and 0.5% respectively.
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