November trade gap widens to record 8.33 bln stg

LONDON (Reuters) - Britain's goods trade deficit with the rest of the world widened to a record level in November, suggesting weaker sterling has failed to boost exports as policymakers had hoped.

Trade in goods to non-European Union countries drove the widening global trade gap, itself suffering the biggest deficit on record as demand from importing countries tumbled, especially in the United States.

KEY POINTS

- Biggest global goods trade gap since records began in 1697

- Biggest non-EU goods trade gap since records began in January 1998

- The ONS said that the deterioration in the global goods trade gap was mainly driven by falling exports outside the European Union, especially to the United States

- The ONS said the trend suggests that Britain's trade deficit has been fairly flat over recent months

ANALYST REACTION

HOWARD ARCHER, GLOBAL INSIGHT