The United Kingdom’s trade deficit narrowed to GBP 3.45 billion in July 2026, down from GBP 5.54 billion in the previous month. It was the smallest trade gap since January, when the trade balance posted a surplus, as exports rose while imports fell. Exports grew 2.1% mom to GBP 81.92 billion, while imports edged down 0.4% to a five-month low of GBP 85.37 billion. Goods exports increased 4.4% to GBP 34.41 billion, while services exports climbed 0.5% to GBP 47.51 billion. On the import side, goods imports fell 1.6% to a six-month low of GBP 55.37 billion, while services imports rose 0.7% to GBP 30.0 billion.