UK Trade Deficit Widens in November


The UK’s deficit in Trade in Goods and Services increased to £2.6 billion in November, up from £1.9 billion in October.

The UK’s surplus in Trade in Services increased to an estimated £6.1 billion, up from £6.0 billion in October. Exports of services rose by less than £0.1 billion (0.2 per cent) to £15.9 billion and imports of services fell by less than £0.1 billion (0.5 per cent) to reach £9.9 billion.

The UK’s deficit in Trade in Goods increased to £8.6 billion, up from the deficit of £7.9 billion in October. Exports of goods fell by £0.4 billion (1.5 per cent) from £26.1 billion in October to £25.7 billion in November, and imports of goods rose by £0.4 billion (1.1 per cent) from October’s £34.0 billion to £34.4 billion in November.

The decrease in exports was driven by lower exports of silver (down £0.3 billion) to non-EU countries, including India. Exports of intermediate goods and consumer goods other than cars, were each down £0.2 billion, largely to non-EU countries. This was offset by higher exports of oil (up £0.3 billion) and cars (up £0.1 billion) to EU and non-EU countries.

The increase in total imports of goods was made up of higher imports of chemicals (up £0.5 billion) largely from EU countries, including Ireland. The record imports from non-EU countries were driven by increased imports of semi-manufactured goods other than chemicals (up £0.1 billion).


TradingEconomics.com, UK Office for National Statistics
1/11/2012 6:49:27 PM