Britain's goods trade deficit with the rest of the world widened more than expected in November and the gap with countries outside the European Union hit a record high, official data showed on today.
The Office for National Statistics said that Britain's goods trade gap grew to £7.193 billion sterling from a revised £6.601 billion in October. Economists had forecast a deficit of £6.48 billion.
The goods trade gap with non-EU countries hit an all-time high of £4.631 billion, from £3.952 billion in October. Analysts had forecast a deficit of £3.95 billion.
Sterling fell against the dollar and euro after the data but policymakers are likely to disregard the latest release as Britain's trade figures are heavily distorted by the effects of VAT fraud.
But the ONS said the trade associated with so-called carousel fraud had fallen to just £200 million in November, well below the £5.4 billion peak in March.
Agencies