UK trade deficit widens in May

Image source, PA

Image caption, In total, UK exports of goods increased by Β£0.1bn to Β£24.1bn, and imports of goods increased by Β£0.5bn to Β£33.3bn

The UK's trade deficit widened in May, pushed up by aircraft imports, official data showed on Thursday.

The said the UK's goods trade deficit grew to just over Β£9.2bn from Β£8.8bn in April.

The deficit was offset by UK's services sector, which had a Β£6.8bn trade surplus.

This left an overall deficit for May of Β£2.4bn, compared with about Β£2.1bn in April.

April's trade figures were revised up at the beginning of June because of a miscalculation of oil exports, before being revised down again slightly at the end of the month to finish above initial estimates.

In May, the deficit in goods widened by about Β£400m, mainly due to imports of aircraft, which are high-value and traded relatively infrequently.

Exports of goods to the European Union dipped by 2% to Β£12.2bn, while imports increased by 1.6% to Β£17.4bn.

European Union countries are major importers of UK goods, but weak demand in the eurozone has hampered trade.

In total, UK exports of goods increased by Β£0.1bn to Β£24.1bn, while imports of goods increased by Β£0.5bn to Β£33.3bn.

As part of efforts designed to aid economic recovery in the UK, the government has sought to help exporters with a number of measures, including increases in available export finance.