British official trade deficit balloons to record high

9th November 2011, Comments 0 comments

Britain's trade-in-goods deficit ballooned to a record amount in September on the back of surging imports, official data showed on Wednesday.

The deficit soared to £9.8 billion ($15.7 billion, 11.5 billion euros) last month, compared with a revised shortfall of £8.6 billion in August, the Office for National Statistics (ONS) said in a statement.

Market expectations had been for a smaller deficit of £8.0 billion in September, according to analysts polled by Dow Jones Newswires.

Exports edged ahead by 0.2 percent to £24.5 billion. However imports jumped 3.8 percent to £34.3 billion, led by demand for industrial chemicals and drugs, silver and works of art, the ONS added.

© 2011 AFP

0 Comments To This Article