UK reports decline in trade deficit for November
During the month, the total value of UK exports reached £31.4 billion ($42.1 billion), marking a 1.9% increase compared to October. At the same time, goods imports declined by 1.1% to £50.3 billion ($67.4 billion), contributing to the overall reduction in the trade imbalance.
Trade with European Union countries showed mixed results. Exports to EU members rose 2.8% month-on-month to £15 billion ($20.1 billion), while imports climbed 1.1% to £27.1 billion ($36.3 billion). This led to a trade deficit of £12.1 billion ($16.2 billion) with the bloc.
The trade balance with non-EU nations also improved, with the deficit standing at £6.8 billion ($9.1 billion). Exports to these countries increased by 1.1% to £16.3 billion ($21.8 billion), while imports fell sharply by 3.6% to £23.2 billion ($31.1 billion).
Trade flows with the United States weakened notably in November. Exports dropped by 10.4%, or £500 million ($670 million), largely due to lower shipments of chemicals, including medicinal, pharmaceutical, and inorganic products. “The value of goods exports to the United States have remained relatively low since the introduction of tariffs in April,” the office said in a statement.
Imports from the US also declined significantly, falling by 12.3% or £900 million ($1.21 billion).
This decrease was mainly driven by a £700 million ($938 million) reduction in material manufactures, particularly non-ferrous metals. “Non-ferrous metals include silver, platinum and palladium bullion bars, which are components of precious metals. Imports of non-ferrous metals from the United States fell by £0.7 billion ($0.94 billion) in November 2025, following a new high in silver prices in October 2025,” it added.
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