UK trade deficit grows as oil price rise pushes up cost of fuel imports

December figures 'pretty poor' given weakness of pound since Brexit vote, City analysts says

Britain's trade position with the rest of the world worsened in December as rising global oil prices pushed up the cost of importing fuel, while the continuing weak pound failed to lift sales of UK-made goods abroad.

The difference between the total value of goods and services imported to Britain and sold overseas widened by 1.2bn from November to 4.9bn in December, according to the Office for National Statistics. While there was an increase in goods export volumes, it came at less than half the pace of imports.