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Britain   Shortfall on international trade in goods

UK goods trade deficit falls sharply in October

UK goods tradeThe 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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READ MORE British trade deficit narrows more than estimated

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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