UK trade deficit for goods hits record high in 2025
Official figures show Britain also recorded historic services surplus
Official figures show Britain also recorded historic services surplus

Britain has been pushed into an unusual trade deficit with its largest trading partner

Figures for September raise hopes that GDP growth in third quarter was stronger than forecast

Totals for both September and first half of financial year are highest since 2020

Policymakers must overcome the mercantilist fallacy that the way to get rich is by running surpluses forever

Figure caps year of lacklustre growth marked by trade shocks

Third-quarter figures dragged down by slide in manufacturing