The deficit of trade in goods for June 2013 was £8.1 billion, an increase of £0.6 billion on the previous month and within the range of normal month to month movements.
The trade position reflects exports minus imports. Exports of goods reached a record high of £26.9 billion in June, an increase of £1.3 billion from May. Imports for the same period increased £0.7 billion to £35.0 billion.
In June 2013, exports of goods to countries outside of the European Union (EU) increased by £1.3 billion to £14.2 billion. £1.1 billion was attributed to the export of finished manufactures, specifically aircraft and works of art. Trade in goods with countries within the EU was relatively unchanged over the same period.
Trade statistics for any one month can be erratic. For that reason, it is recommended to compare the latest quarter against the preceding quarter and the same quarter of 2012. The comparison with a year earlier should be viewed, though, with caution at the moment; figures (particularly export data) for the spring months of 2012 were unusually volatile, possibly due to the unusual pattern of public holidays in that period.
The deficit on trade in goods reduced to £24.9 billion in Q2 2013 from £26.5 billion in Q1 2013. Exports of goods in the second quarter of 2013 reached £78.4 billion, the highest on record. Imports of goods also increased in Q2 2013 to £103.3 billion, the highest level since the three months to November 2011.
Source: Office for National Statistics
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