UK trade deficit narrows to £9.4bn in November
Export volumes to the EU rose 5.8 per cent on the month
Thursday 09 January 2014
The UK's goods trade deficit narrowed to £9.4 billion in November, compared with £9.7 billion in October, official figures showed.
Export volumes to the EU rose 5.8 per cent on the month as sales were boosted by factors including chemical products exported to Germany.
But imports from the EU are also at a record high and less-volatile quarterly figures show EU exports down more than 5 per cent in the three months to November.
The UK’s total trade deficit of £3.2 billion was also far higher than expected after revisions to previous estimates, while a recovery at home is likely to see import demand soar, economists said.
Simon Wells, chief UK economist at HSBC, said: "Given that the recovery in domestic demand is likely to continue through 2014, and in particular that surveys suggest investment may bounce back, this deficit is worrying. Investment is import-intensive and so strong import growth is likely."
- 1 California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
- 3 Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
- 5 We have six months to save the world, says leading economist
California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
Sepp Blatter resigns: FBI are investigating outgoing Fifa president, claims report
Alton Towers crash: Four seriously injured and 16 guests trapped as Smiler ride carriages collide
Gay teenager 'forced to have sex with his own mother' to 'cure' his homosexuality, campaigners in India say
Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Church of England 'one generation away from extinction' after dramatic loss of followers
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...
£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...