Seasonally adjusted, the UK's deficit on trade in goods and services was 1.5bn pounds in July, compared with a deficit of 4.3bn in June, according to the latest data just released by the Office for National Statistics (ONS).

There was a deficit of £7.1bn on the so-called 'visible trade balance' -goods- (Consensus: -9.0bn), partly offset by an estimated surplus of £5.6bn on services.

In the three months ending July 2012 trade in goods and services was estimated to have been in deficit by £8.0bn, compared with a deficit of £10.5bn in the preceding three months.

Excluding oil and erratic items, the volume of exports was 0.9% higher for the three months ending July 2012 compared with the preceding three months. The volume of imports fell 0.8% over the same period.

As ONS previously announced in its statement on 3 July 2012, exports and imports price indices data are not available in this month's UK Trade publication.

AB

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