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UK goods trade deficit falls sharply in October

Staff Writer |
The UK's total trade deficit fell more quickly than expected in October as the shortfall in its trade in goods dropped sharply.

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Trade in goods and services registered a deficit of -£2 billion in October, down from -£5.8 billion in the previous month, according to the Office for National Statistics.

Economists had forecast a deficit on the country's trade in goods of -£11.9 billion.

Britain's shortfall on international trade in goods dropped from -£13.8bn to -£9.7 billion while the surplus on its trade in services slipped from £8.0 billion to £7.7 billion.

In terms of quarterly rates of change, between the three months to July 2016 and the three months to October 2016 the total trade deficit increased by £4.7 billion to £13.2 billion.


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