UK deficit widens in November

The UK's deficit on trade in goods and services was estimated to be £4.2bn in November 2016, which was £2.6bn more than October 2016.

This reflected a £3.3bn increase in imports, which was partially offset by a £0.7bn increase in exports.

A bigger deficit in November was attributed to trade in goods in which there were increased imports from EU and non-EU countries. This was partially offset by more exports to EU countries.

At the commodity level, the main cause of the widening monthly deficit for trade in goods in November was a widening of the deficit for both semi-manufactures and finished manufactures.

Total trade prices for exports and imports fell in November (1.9% and 1% respectively) which coincided with a slight recovery in the value of sterling following consistent falls earlier in 2016.

Between the three months to August and the three months to November, the total trade deficit for goods and services narrowed by £0.4bn to £11bn, with exports increasing more than imports.

The three-monthly narrowing of the deficit was attributed to an increase of the trade in services surplus.

The deficit in trade in goods widened slightly as the value of goods imported increased more than the value of goods exported.