United Kingdom Trade Deficit Widens in November


In November, deficit on trade in goods and services was estimated to have been £3.2 billion in November 2013, compared with a deficit of £3.5 billion in October. There was a deficit of £9.4 billion on goods, partly offset by an estimated surplus of £6.2 billion on services.

Exports of goods increased by 2.0 percent between October and November to £25.3 billion. Imports for the same period rose by 0.8 percent to £34.8 billion.

Sales of goods to the European Union (EU) increased by £0.6 billion to £12.8 billion reflecting an increase in the export of chemicals of £0.4 billion. Imports from the EU increased by £0.5 billion to £19.2 billion, a record high attributed mainly to cars.  

In November, shipments of goods to countries outside of the EU decreased by £0.1 billion to £12.6 billion. Purchases decreased by £0.2 billion to £15.6 billion.

The balance on trade in oil was in deficit by £0.9 billion, compared with a deficit of £1.3 billion in October 2013. Oil exports increased by £0.2 billion to £2.9 billion and oil imports decreased by £0.2 billion to £3.8 billion.


ONS | Nuno Fontes | nuno@tradingeconomics.com
1/9/2014 9:47:19 AM