Britain's goods trade deficit with the rest of the world widened more than expected in July as the oil balance recorded its biggest deficit since January, official statistics showed today.
The Office for National Statistics said Britain's goods trade gap widened to £7.065 billion. Economists had forecast a deficit of £6.4 billion.
The goods trade gap with non-EU countries increased to £4.480 billion against forecasts for a deficit of £3.55 billion.
The oil deficit widened to £270 million in July, and a calculation error last month meant June's originally reported surplus of £257 million was revised to show a deficit of £14 million.
Total exports of goods in July rose by 2.5 per cent to £19.2 billion and total imports rose 4 per cent to £26.3 billion.
Within that, exports to EU countries rose 9.5 per cent while exports to non-EU countries fell 6 per cent. Imports from EU countries rose 3 per cent, and imports from non-EU countries rose 5 per cent. Import prices excluding oil and erratics fell 0.7 per cent in July, the biggest decline since December.
Elsewhere, France's trade deficit widened more sharply than expected in July.
The French trade deficit widened to €3.304 billion from a revised €3.145 billion in June and was significantly larger than the €3.0 billion forecast by economists.