UK Exports Fall But Cheaper Imports Still Reduce Deficit

January 8, 2016 Share Print 0

Britain’s trade gap remained alarmingly high in November after exports fell to their lowest value since July.

Official figures showed the deficit in goods and services narrowed to £3.2bn compared with £3.5bn in the previous month, but this was only after a drop in oil imports and a £2.4bn fall in the value of “unspecified goods”, mainly gold, brought into the country.

The persistently high level of the UK trade deficit leaves George Osborne with a headache and will likely renew calls for further action to boost exports.

The chancellor warned on Thursday about a “dangerous cocktail” of economic risks which meant 2016 was likely to be one of the toughest years since the financial crisis.

via The Guardian

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.