UK's trade deficit down to $25.39B in November

• Exports to US down 10.4% in November, while imports drop 12.3%

ISTANBUL

The UK's trade balance posted a deficit of £18.9 billion ($25.39 billion) in November, down from the previous month, the Office for National Statistics (ONS) said Friday.

The market had expected the monthly deficit to come in at £20.3 billion in November.

The country's exports totaled £31.4 billion, up 1.9% month-on-month, while goods imports reached £50.3 billion, down 1.1%.

Exports to EU member states were at £15 billion, up 2.8% monthly, while imports came in at £27.1 billion, climbing 1.1%, resulting in a deficit of £12.1 billion.

The trade deficit to non-EU countries was £6.8 billion, with exports rising 1.1% to £16.3 billion and imports dropping 3.6% to £23.2 billion.

Exports to the US fell 10.4% or £500 million in November, due to a £500 million fall in exports of chemicals linked to lower exports of medicinal and pharmaceutical products and inorganic chemicals.

"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.

Meanwhile, imports from the US also dropped 12.3% or £900 million, mainly due a £700 million fall in imports of material manufactures linked to lower imports of 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 in November 2025, following a new high in silver prices in October 2025," it added.