UK Trade Deficit Narrows in May

Neville Prior  10 July 2012 10:29:24 AM

The UK's trade gap narrowed in May, helped by a boost in exports. The trade deficit - a measure of how much imports exceed exports - fell to £2.7bn, compared with £4.1bn in April, according to figures from the Office for National Statistics. The seasonally adjusted volume of exports was 6.6% higher, while imports rose 1%. The goods deficit was £8.4bn, compared to £9.7bn in April, while services showed an unchanged surplus of £5.6bn.

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