- The UK trade deficit in goods and services was £3.2 billion in November 2015, a narrowing of £0.3 billion from October 2015
- The November improvement was mainly the result of a fall in the import of goods of £0.9 billion
Commenting on the UK trade figures for November 2015, published today by the ONS, David Kern, BCC Chief Economist, said:
“Despite the reduction in the UK’s trade deficit in November, it is now likely that for the quarter as a whole the deficit worsened.
“The disappointing export figures confirm the findings from our own Quarterly Economic Survey this week, which showed particularly weak balances for manufacturing exports.
“Although worsening global headwinds are contributing to the UK’s excessive trade deficit, the broader message is that unless radical measures are taken to strengthen our export performance, our trade deficit will continue to be a threat to the country’s long-term economic performance.”