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Trade gap widens...
Graham_Devon
Posts: 58,560 Forumite
...and has sent the pound to a 12m low against the dollar.
http://www.bbc.co.uk/news/business-16510960
Fancy that, silver is one large culprit!The UK's trade deficit widened by more than expected in November as imports increased and exports fell, figures from the Office for National Statistics (ONS) have shown.
The deficit on the trade in goods and services was £2.6bn in November compared with £1.9bn in October.
The widening gap came mostly from a drop in the value of exports of goods.
The deficit on the trade in goods grew to £8.6bn in November, greater than the £7.9bn recorded in October.
City analysts had expected a trade gap of no more than £8.3bn.
Exports of goods fell 1.5% to £25.7bn, while imports rose 1.1% to £34.4bn, boosted by big purchases of chemicals and crude oil.
The UK's export performance was hit by a £300m fall in sales of silver to countries outside the EU.
http://www.bbc.co.uk/news/business-16510960
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