United Kingdom

UK Trade Deficit Narrows More Than Expected

Exports up

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The U.K. visible trade deficit narrowed more-than-expected to a near 1-year low in June, thanks to record exports amid slower increase in imports.

The deficit on goods trade declined to GBP 8.1 billion in June, the lowest since July 2012, from GBP 8.7 billion in May, the report released by the Office for National Statistics showed Friday.

The decrease of GBP 0.6 billion remains