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August 15, 2024UK TRADE BALANCE, JUNE 2024 
Month-over-month (June 2024 vs May 2024, seasonally adjusted)
The United Kingdom (UK) goods and services trade deficit narrowed by £0.4 billion to £5.3 billion. Exports of goods and services increased 3.5% (£2.5 billion) to £73.0 billion while imports of goods and services were up 2.6% (£2.0 billion) to £78.3 billion.
The UK goods trade deficit grew by £0.3 billion to £18.9 billion. Exports of goods from the UK increased 7.6% (£2.3 billion) to £32.1 billion. Imports of goods to the UK increased 5.3% (£2.6 billion) to £51.0 billion. The UK services trade surplus was grew by £0.75 billion £13.6 billion. Exports of services from the UK increased 0.5% (£0.2 billion) to £40.9 billion while imports of services to the UK decreased 1.9% (£0.5 billion) to £27.4 billion.
The UK goods trade deficit with the European Union (EU) grew by £0.5 billion to £11.4 billion. Exports of goods from the UK to the EU grew by 9.6% (£1.4 billion) to £15.6 billion while imports of goods from the EU to the UK increased by 7.4% (£1.9 billion) to £27.0 billion. The UK trade deficit with countries outside the EU narrowed by £0.2 billion to £7.5 billion. Exports from the UK to countries outside the EU were up 5.7% (£0.9 billion) while imports to the UK from non-EU countries grew 3.0% (£0.7 billion) to £23.9 billion.
Year-over-year (June 2024 vs June 2023)
The UK goods and services trade deficit widened by £2.9 billion. The goods deficit widened by £4.0 billion while the services surplus expanded by £1.1 billion. Goods exports were down 4.1% year-over-year (-£1.4 billion) while goods imports were up 5.5% (+£2.7 billion). Services exports were up 4.8% (+£1.9 billion) while services imports were up 2.8% (+£0.7 billion).
Compared with June 2023, the UK goods trade deficit with the EU narrowed by £1.2 billion (exports +3.2% or +£0.5 billion, imports -2.7% or -£0.8 billion). The UK goods trade deficit with non EU countries widened by £5.3 billion (exports -10.1% or -£1.9 billion, imports +16.7% or +£3.4 billion).
Source: UK Office for National Statistics: Press release | UK trade time series
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