Economic Buzz: UK trade deficit at ?9.1 billion in May

The total goods and services trade deficit in the United Kingdom expanded by ?4.4 billion to ?9.1 billion in the three months to May compared to the three months to February, the country's Office for National Statistics (ONS) revealed in a report published on Thursday.

Quarter on quarter, in the aforementioned three-month period, exports from the country increased by 2.4% or ?5.7 billion to reach ?241.4 billion, while imports to the UK jumped by 4.2% or ?10.1 billion, hitting ?250.5 billion.

Total trade deficit in goods widened to ?60.9 billion and total trade surplus in services came in at ?51.8 billion. When it comes to total trade in goods with the European Union, the deficit stood at ?35.5 billion in the three months to May, with imports at ?85.4 billion and exports at ?49.9 billion.

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