11 July 2025, 14:43  United Kingdom: Trade Gap Narrows in May.

The UK trade deficit narrowed to 5.70 billion GBP in May 2025, down from a downwardly revised 6.50 billion GBP in April, as exports grew faster than imports. Exports rose 1.2% mom to 74.31 billion GBP, while imports edged up by 0.1% to 80.01 billion GBP. Goods exports increased by 2.2%, supported by a 2.9% rise in shipments to the EU, largely driven by higher fuel exports to Poland. Exports to non-EU countries advanced 1.5%, mainly due to stronger inorganic chemical exports to the US. Exports of goods to the US, including precious metals, rose by 0.3 billion GBP in May, rebounding after a substantial drop the previous month. Service exports climbed 0.5% to 45.22 billion GBP. On the import side, goods imports fell 0.2% to a four-month low of 50.78 billion GBP, mainly due to reduced imports of refined oil from the Netherlands and lower imports of ships and aircraft from the US. Total goods imports from the US declined by 0.9 billion GBP in May. Meanwhile, service imports increased by 0.5% to 29.23 GBP billion.

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