Investing.com – Britain's trade deficit on goods contracted more-than-expected in June, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said the country's trade deficit was GBP 7.4 billion in June, down from GBP 8.0 billion in May, whose figure was revised from GBP 8.1 billion.
Economists had expected the trade deficit to contract to GBP 7.7 billion in June.
The report said exports prices fell 0.6% in June while import prices fell 0.3% from May.
Excluding oil, the volume of exports rose by 0.9% but the volume of imports fell by 1.7% month-on-month.
Following the release of the data the pound was down against the U.S. dollar, with GBP/USD shedding 0.56% to hit 1.5801.
In a report, the U.K. Office for National Statistics said the country's trade deficit was GBP 7.4 billion in June, down from GBP 8.0 billion in May, whose figure was revised from GBP 8.1 billion.
Economists had expected the trade deficit to contract to GBP 7.7 billion in June.
The report said exports prices fell 0.6% in June while import prices fell 0.3% from May.
Excluding oil, the volume of exports rose by 0.9% but the volume of imports fell by 1.7% month-on-month.
Following the release of the data the pound was down against the U.S. dollar, with GBP/USD shedding 0.56% to hit 1.5801.