Trade deficit

Published January 11, 2003

LONDON, Jan 10: The British trade deficit was driven up to a new record high in November by dwindling exports, particularly crude oil shipments to the United States, official figures showed on Friday.

The global trade in goods deficit widened to 3.98 billion pounds ($6.4bn) in November from a revised shortfall of 3.63bn pounds the previous month, the National Statistics office said.

The deficit, the highest since records began in 1697, was fuelled by a 6.5pc fall in exports to non-European Union countries, notably crude shipments to the US, the office said.—AFP