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- UK's trade deficit narrowed £0.2 billion to £7.9 billion in the three months to November
UK's trade deficit narrowed £0.2 billion to £7.9 billion in the three months to November
The total trade deficit (goods and services) narrowed £0.2 billion to £7.9 billion in the three months to November 2018 as both goods and services exports each increased £0.1 billion more than their respective imports.
Excluding erratic commodities (mainly aircraft) the total trade deficit widened £1.2 billion to £9.5 billion in the three months to November 2018.
Large increases in export prices of oil and aircraft drove the narrowing of the total trade deficit; removing the effect of inflation, the total trade deficit widened £0.3 billion to £6.5 billion in the three months to November 2018.
The trade in goods deficit widened £0.8 billion with EU countries and narrowed £0.9 billion with non-EU countries in the three months to November 2018, due mainly to increases in imports from EU countries and exports to non-EU countries.
The total trade deficit widened £4.1 billion in the 12 months to November 2018 due mainly to a £4.4 billion narrowing in the trade in services surplus.
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