UK June visible trade balance GBP -12.722 bln vs -11.0 bln exp

Author: Mike Paterson | Category: News

UK June trade balance data report 10 Aug

  • vs GBP -11.3 bln prev revised up from -11.863bln
  • trade bal GBP - 4.564 bln vs -2.5bln exp vs -2.516 bln prev revised up from -3.076 bln
  • trade non-EU GBP -4.47 bln vs -3.0bln exp vs -3.493 bln prev revised up from -3.796bln
  • export volumes -4.9% mm, biggesdt monthly fall since June 2016

Soggier current trade data, biggest deficits since last September, but upward revisions to May.

So much for a weaker pound helping our exports

GBPUSD 1.2980 with decent offers between 85-00 as per the order boards. EURGBP  0.9034 with support into 0.9020 again.

UK output data released at the same time and headline ind prod better than expected but ONS still saying the whole release indicates a -0.1% revision to Q2 GDP which should help stem GBP rallies.

Says the ONS on June trade data:

  • Between Quarter 1 (Jan to Mar) 2017 and Quarter 2 (Apr to June) 2017, the total trade deficit (goods and services) widened by £0.1 billion to £8.9 billion as increases in imports were closely matched by increases in exports.

  • The UK's total trade deficit (goods and services) widened by £2.0 billion between May and June 2017 to £4.6 billion, due to increases in imports of both goods and services; erratic commodities had little impact within the total trade balance on the month.

  • Since the last UK trade release, the total trade (goods and services) deficits for April and May 2017 have been revised down by £0.3 billion and £0.6 billion respectively; this is due to an upward revision to exports of goods in April 2017 and downward revision to the imports of goods in May.

Full report here


                                                 UK visible trade balance mm