UK Exports Fall But Cheaper Imports Still Reduce Deficit

Britain’s trade gap remained alarmingly high in November after exports fell to their lowest value since July.

Official figures showed the deficit in goods and services narrowed to £3.2bn compared with £3.5bn in the previous month, but this was only after a drop in oil imports and a £2.4bn fall in the value of “unspecified goods”, mainly gold, brought into the country.

The persistently high level of the UK trade deficit leaves George Osborne with a headache and will likely renew calls for further action to boost exports.

The chancellor warned on Thursday about a “dangerous cocktail” of economic risks which meant 2016 was likely to be one of the toughest years since the financial crisis.

via The Guardian

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.