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UK's trade deficit deteriorates sharply in November

UK's trade deficit deteriorates sharply in November

PanARMENIAN.Net - The UK's trade position deteriorated sharply in November from the previous month, BBC News reports.

The deficit on trade in goods and services was estimated at £4.2bn in November, up from £2.6bn in October.

The widening gap reflects a £3.3bn surge in imports according to the Office for National Statistics (ONS).

For the three months to the end of November the trade deficit rose a more modest £0.1bn to £35.9bn. That was compared to the three months to August.

For November, the deficit on trading in just goods (and not services) increased to £12.2 billion, widening by £2.3 billion from October.

A £1.4bn rise in machinery and transport equipment imports was the biggest contributor to that figure the ONS said.

In particular the ONS noted a rise in imports of laptops and tablets from China. It also highlighted a rise in transport goods, which includes ships and railway equipment, from countries outside the European Union.

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