LONDON
,
September 12, 2022
(press release)
–
Total value of UK exports and imports of goods and services in current prices, chained volume measures and implied deflators.
Main points
- Total imports of goods, excluding precious metals, decreased by £0.5 billion (0.9%) in July 2022 because of a £0.4 billion (1.5%) fall in imports from non-EU countries, while imports from EU countries decreased by £0.1 billion (0.3%).
- Total exports of goods, excluding precious metals, increased by £2.1 billion (6.7%) in July 2022, driven by a £1.3 billion (7.9%) increase in exports to EU countries, while exports to non-EU countries increased by £0.8 billion (5.4%).
- The increase in exports to EU countries in July 2022 was primarily driven by higher exports of fuels, and machinery and transport equipment, which increased by £0.8 billion and £0.4 billion respectively.
- The total trade in goods and services deficit, excluding precious metals, widened by £1.2 billion to £27.0 billion in the three months to July 2022 compared with the three months to April 2022.
- The trade in goods deficit, excluding precious metals, widened by £0.6 billion to £61.6 billion in the three months to July 2022, driven by a £7.8 billion increase in goods imports.
- Early estimates suggest the trade in services surplus narrowed by £0.7 billion to £34.6 billion in the three months to July 2022, driven by a £2.0 billion increase in services imports.
- Removing the effect of inflation, the total trade deficit, excluding precious metals, narrowed by £2.0 billion to £20.8 billion in the three months to July 2022.
Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.
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