UK boost as trade deficit lowest for two years
Britain's trade deficit with the rest of the world has narrowed to its lowest level for nearly two years, official figures showed. The shortfall between what Britain exports and what it imports fell from £3.15bn in March and £1.83bn in April to £393m in May. It was the smallest deficit since June 2013, although the improvement was down to a fall in imports rather than a rise in exports of British-made goods. Total exports of goods and services were flat at £43bn in May while exports of goods alone dipped by £14m to £24.6bn, according to a report by the Office for National Statistics. The ONS figures showed British firms exported £33.4bn of goods to the European Union in the three months to May - down 13.4% on the same months last year. Sales to the rest of the world rose 8.9% to £39.7bn in a further sign that the UK is becoming less reliant on sluggish European countries for trade.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander
The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…
Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…
Money will support the company, which serves the manufacturing sector, with Welsh and West Midland growth plans.