Britain's trade gap widened to a record level of almost STG4bn in November, according to figures from the government this morning The UK's global trade in goods deficit widened to UK3.98bn against an upwardly revised STG3.63bn the previous month, National Statistics said. The deficit widened as total export volumes declined faster than imports, dropping by 5.5pc to STG14.3bn as imports eased by less than half that rate to STG18.3bn
Exports to non-EU countries tumbled by 13pc to hit their lowest level since October 1999, said National Statistics. The non-EU deficit for November increased to STG3.1bn from STG2.4bn, the worst since August 2001, while the deficit with the EU narrowed, slipping to STG900m from STG1.2bn in October In the three months to November, the trade deficit in goods rose to STG10.3bn from STG8.6bn in the previous three months. The UK's balance on trade in both goods and services also widened in November, rising to STG2.8bn from STG2.5bn in October //www.fxcentre.com