UK Trade Deficit Narrows in July as Exports Increase and Imports Fall (TYO:1347)


The UK trade deficit narrowed in July, the first month after the historic referendum in which voters backed an exit from the European Union, the world’s largest trading bloc, the Office for National Statistics (ONS) said on Friday. The deficit in goods and services trade totaled 4.5 billion pounds ($5.99 billion) in July 2016, compared with 5.6 billion pounds in June, the ONS said. The narrowing was led by both an increase in exports and a drop in imports. Exports rose by 800 million pounds and imports decreased 300 million pounds, the ONS said. The trade in goods showed a deficit of 11.8 billion pounds in July 2016, narrowing from 13 billion pounds in June, on exports of 24.8 billion pounds and imports of 36.6 billion pounds.

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