British trade deficit shrinks to £0.4bn in May

British deficit on trade in goods and services was estimated to have been 0.4 billion pounds (or 0.6 billion U.S. dollars) in May 2015, compared with the previous month's 1.8 billion pounds, data showed by the Office for National Statistics (ONS) Friday.

Britain registered an 8.0 billion pounds deficit on goods trade, and an estimated surplus of 7.6 billion pounds on services in May, data showed.

The deficit is the smallest since June 2013 and the narrowing is a result of imports decreasing by 1.4 billion pounds to 43.4 billion pounds, as exports were unchanged at 43 billion pounds, noted ONS.

In the three months to May, the deficit on trade in goods and services was estimated to have been 5.4 billion pounds, narrowing by 1.4 billion pounds from the three months to February 2015, data showed. (1 pound = 1.54 U.S. dollars)