UK Trade, November 2015

8 Jan 2016 03:25 PM

Main points for November 2015

• UK trade shows import and export activity and is a main contributor to the overall economic growth of the UK. All data are shown on a seasonally adjusted, balance of payments basis, at current prices unless otherwise stated.
• The UK’s deficit on trade in goods and services was estimated to have been £3.2 billion in November 2015, a narrowing of £0.3 billion from October 2015. The narrowing is attributed to trade in goods where the deficit has narrowed from £11.2 billion in October 2015, to £10.6 billion in November 2015.
• Between October 2015 and November 2015, the trade in goods narrowing was mainly the result of a fall in the import of goods of £0.9 billion to £33.9 billion. The narrowing is mainly attributed to a fall in imports of oil which decreased by £0.5 billion to £2.2 billion.
• In November 2015, the balance of trade in oil was in deficit by £0.6 billion, a narrowing of £0.5 billion from October 2015. Oil exports were virtually unchanged; increasing by less than £0.1 billion to £1.6 billion between October and November, whilst imports decreased by £0.5 billion to £2.2 billion over the same period. The fall in imports resulted in the UK’s global oil deficit almost halving between October 2015 and November 2015.
• In the 3 months to November 2015, the UK’s deficit on trade in goods and services was estimated to have been £7.7 billion; narrowing by £1.0 billion from the 3 months to August 2015.
• Between the 3 months to August 2015 and the 3 months to November 2015, the trade in goods deficit narrowed by £0.8 billion to £30.6 billion. This narrowing was mainly attributed to a £2.4 billion fall in imports of unspecified goods.
• Between the 3 months to August 2015 and the 3 months to November 2015, the trade in services surplus widened by £0.1 billion to £23.0 billion.

Get all the tables for this publication in the data section of this publication.