Statistical bulletin: UK Trade, June 2014

• Key Points
• Key Figures
• Summary
• Longer-Term Perspective
• Value of UK Trade in Goods
• Trade in Goods – EU Analysis
• Trade in Goods – Non-EU Analysis
• Trade in Goods – One-Month Geographical Analysis
• Trade in Goods – Quarterly Geographical Analysis
• Volume of Total Trade in Goods, Excluding Oil and Erratics
• Export and Import Prices for Trade in Goods (Not Seasonally Adjusted)
• Trade in Oil
• Trade in Services
• Records Sheet
• Background notes
• Statistical contacts

Abstract

• UK Trade shows the extent of import and export activity and is a key contributor to the overall economic growth in the UK.
• Seasonally adjusted, the UK’s deficit on trade in goods and services was estimated to have been £2.5 billion in June 2014, compared with £2.4 billion in May 2014.
• In June 2014 there was a deficit of £9.4 billion on goods, partly offset by an estimated surplus of £7.0 billion on services. The trade in goods deficit widened by £0.3 billion compared with May 2014.
• In June 2014, exports of goods decreased by £0.4 billion to £23.5 billion reflecting falls in oil and manufactured goods. Imports of goods decreased by £0.1 billion to £32.9 billion reflecting falls in imports of oil and aircraft; these falls were offset by increases elsewhere in manufactured goods.
• The falls in both exports and imports of goods in June 2014 were attributed to a decrease in trade with countries outside of the European Union (EU).
• In Q2 2014 exports of goods decreased by £0.5 billion to £71.3 billion reflecting a decrease in exports of oil. Imports of goods increased by £0.4 billion to £98.7 billion reflecting increases in imports of ships, cars and medicinal & pharmaceutical products.

Source: Office for National Statistics licensed under the Open Government Licence v.1.0.