FX.co ★ Britain’s trade deficit widens in May

The UK’s trade deficit increased to 9.9 billion pounds ($12.82 billion) in May from 9.4 billion pounds in April, the UK Office for National Statistics (ONS) said.
The country’s exports fell by 8.2% in the reporting period from the prior month, while its imports contracted by 4.7%.
Including services, the UK's trade deficit widened to 2.3 billion pounds in May from 2 billion pounds in April.
The ONS said Britain’s policymakers are facing challenge in boosting trade after the vote to leave the European Union.
Thus, UK business minister Sajid Javid will hold preliminary talks with Indian government on Friday, marking the start of negotiations to establish new trade deals with individual countries after the EU referendum.
Moreover, Javid is going to visit the US, China, Japan, and South Korea, Britain’s potential trading partners.