UK Trade in Goods and Services Deficit Widens by £2.8 Billion

UK Trade in Goods and Services Deficit Widens by £2.8 Billion

(ONS) The UK posted a trade deficit of 9.3 billion pounds in the quarter to November 2021, up by 2.8 billion pounds. 

UK Goods Imports

The widening deficits in the three months reflected a 4.9% or 2.0 billion pounds rise in imports in November, compared to a 0.3 billion pounds or 1.0% decline in exports. 

UK imports from the EU rose by 0.8 billion pounds or 4.5% in November, compared to a jump of 1.1 billion pounds or 5.2% from the non-EU countries. 

The exports to the UK from the EU fell by 0.3 billion pounds or 2.1%, while exports to the non-EU countries were unchanged.

The rise in UK trade deficit happens even as its gross domestic product rose by 0.9% in November to reach levels higher than the pre-pandemic period by 0.7%.

FTSE 100 is down -0.53%, GBPUSD is down -0.05%

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