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The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Friday. The U.K. trade deficit in goods narrowed to £8.0 billion in May from £9.8 billion in April. It was the lowest level since June 2013.
April's figure was revised down from a deficit of £8.56 billion.
The decline in the trade deficit was driven by a drop in imports. Imports dropped by 5.5% in May, while exports of goods rose 0.1%.
The total trade deficit, including services, narrowed to £393 million in May from £1.834 billion in April. It was the lowest total trade deficit since June 2013.
April's figure was revised down from a deficit of £1.202 billion.
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