British official trade deficit shrinks on record exports

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Britain's trade-in-goods deficit shrank in October as exports hit a record amount, official data showed on Friday.

The deficit fell to £7.6 billion ($11.9 billion, 8.9 billion euros) compared with a revised shortfall of £10.2 billion in September, the Office for National Statistics (ONS) said in a statement.

Market expectations had been for a much larger deficit of £9.4 billion in October, according to analysts polled by Dow Jones Newswires.

The ONS added that exports jumped by £2.1 billion to an official British record-high £26.5 billion in the month, as overseas buyers took advantage of a weak pound.

© 2011 AFP

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