UK trade deficit narrows to $15.46B in November due to strong exports

Nathan Andrada – Fourth Estate Cooperative Contributor

London, England, United Kingdom (4E) – The gap between UK exports and imports narrowed in November, according to the Office for National Statistics (ONS).

The shortfall in British trade goods fell to 9.4bn pounds ($15.46bn) in November from 9.7bn pounds in October, according to the ONS, which also marks the smallest deficit since June.

Exports to most of the UK’s top trading partners increased in November, particularly to European Union countries like France and Italy. Exports of chemicals showed some strength in the month.

Imports also increased, particularly vehicle purchases from other EU countries, but to a lesser degree, which helped reduce the total deficit.

The shortfall matched economists’ estimates, according to last week’s survey by The Wall Street Journal.

Thursday’s data from the ONS also showed that shipments to China jumped to record levels in the three months ended November.

Including services and goods, the trade deficit dropped to 3.2bn pounds in November from 3.5bn pounds in October.

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