Britain's official trade deficit widens in October

9th December 2010, Comments 0 comments

Britain's trade-in-goods deficit expanded in October from the level in September as record-high imports offset signs of a recovering export market, official data showed on Thursday.

The deficit grew to 8.5 billion pounds (10.1 billion euros, 13.4 billion dollars) in October, compared with a revised deficit of 8.4 billion pounds in September, the Office for National Statistics (ONS) said in a statement.

September's deficit had originally been put at 8.2 billion pounds.

Analysts had expected the deficit to shrink to 8.1 billion pounds in October, according to a survey conducted by Dow Jones Newswires.

October imports shot up 3.4 percent to 31.6 billion pounds -- the highest level on record, the ONS added.

Exports rose to 23.1 billion pounds -- the highest amount since May, 2006.

© 2010 AFP

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