British Chambers of Commerce : BCC: UK trade deficit remains excessive despite slight improvement

David Kern comments on the UK trade figures for November 2015, published today by the ONS.

• The UK trade deficit in goods and services was £3.2 billion in November 2015, a narrowing of £0.3 billion from October 2015
• The November improvement was mainly the result of a fall in the import of goods of £0.9 billion

Commenting on the UK trade figures for November 2015, published today by the ONS, David Kern, BCC Chief Economist, said:

'Despite the reduction in the UK's trade deficit in November, it is now likely that for the quarter as a whole the deficit worsened.

'The disappointing export figures confirm the findings from our own Quarterly Economic Survey this week, which showed particularly weak balances for manufacturing exports.

'Although worsening global headwinds are contributing to the UK's excessive trade deficit, the broader message is that unless radical measures are taken to strengthen our export performance, our trade deficit will continue to be a threat to the country's long-term economic performance.'

Ends

Notes to editors:

The British Chambers of Commerce (BCC) sits at the heart of a powerful network of 52 Accredited Chambers of Commerce across the UK, representing thousands of businesses of all sizes and within all sectors. For more information visit: www.britishchambers.org.uk

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