UK trade deficit widens in Nov. ’24

The UK’s total trade deficit for goods and services widened by £3.8 billion to £10.8 billion in the three months to November 2024, driven by a larger fall in exports compared to imports, according to the Office for National Statistics (ONS).

The trade in goods deficit expanded by £1.8 billion to £54.1 billion during the period, while the services trade surplus narrowed by £1.9 billion to £43.3 billion.

Imports of goods fell by 0.6 per cent in November, primarily due to reduced imports from the EU, while imports from non-EU countries remained stable. In contrast, exports of goods rose by 0.8 per cent, supported by increased trade with non-EU countries, which partially offset a decline in EU-bound exports.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama