Trade deficit shows slight downturn  

UK trade deficit narrowed in November 2012 largely due to exports having risen more than imports, official figures have shown.

The seasonally-adjusted deficit on goods and services totalled £3.5bn in November, compared with £3.7bn in October.

The rise in exports was led by chemicals, which edged up by £446m. The UK’s total goods exports increased by 2.9% to £24.8bn, while imports rose by 1.1% to £34bn.

The UK’s export and import of services in November remained unchanged. Services exports were valued at £15.5bn, while imports totalled £9.8bn.

A full report is available on the Office for National Statistics website at www.ons.gov.uk