Best viewed on a device with a bigger screen...
The trade deficit has hit a record share of GDP over the last two quarters, but it will only get worse.
Goods imports will fall, as firms now have excess stock, but the value of energy imports will surge this winter.
The U.K.'s shortfall in exports relative to 2018 remains the largest in the G7; Brexit is largely to blame.
brexit, deficit, e.u., energy, export orders, exports, fuel, futures prices, g7, gas prices, imports, July, manufacturers, manufacturing, manufacturing pmi, natural gas, natural gas prices, oil, ONS, pmi, pmis, q1, q2, q3, q4, restocking, russia, sterling, surveys, trade, trade deficit, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence