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Commodity Mid Session News

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(16 Jan 2025, 13:05)

Economic Buzz: UK imports down 0.6% in November, trade deficit widens in three months to November


According to the Office for National Statistics, the value of goods imports in UK decreased by £0.3 billion (0.6%) in November 2024, because imports from the EU fell while imports from non-EU countries remained stable.

The value of goods exports rose by £0.2 billion (0.8%) in November 2024, with a rise in exports to non-EU countries partially offset by a fall in exports to the EU.

The total goods and services trade deficit widened by £3.8 billion to £10.8 billion in the three months to November 2024, because of a larger fall in exports than imports.

The trade in goods deficit widened by £1.8 billion to £54.1 billion in the three months to November 2024, while the trade in services surplus is estimated to have narrowed by around £1.9 billion to £43.3 billion.

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