Latest data released by ONS - 14 July 2020
- Prior -£7.5 billion; revised to -£4.8 billion
- Non-EU trade balance £0.6 billion vs -£3.0 billion expected
- Prior -£2.7 billion; revised to -£0.9 billion
Slight delay in the release by the source. The trade deficit narrowed in May as exports rebounded by 6.6% m/m while imports fell further by 1.7% m/m. Both exports and imports are still well off pre-virus levels but a rebound in the former is certainly welcome at this stage - even though it may just have been a minor one.
