The current account

Q3 2016

The UK’s current account deficit in the 3rd Quarter of 2016 (July – September) was £25.5 billion, which equated to 5.2% of GDP, up from 4.6% in Q2. The increase in the deficit was largely due to a weakening trade account, specifically an increase in the goods deficit. This was partly offset by an increasing surplus on the services. The financial account saw a net inflow on £22.6 billion.

current account as% of GDPl | amCharts

Previous figures.

Q3 2015

The UK's current account deficit was £17.5 billion in the third quarter of 2015. The deficit was equal to 3.7% of GDP, which was slightly down from the previous quarter.

Q4 2014

The latest statistics released by the ONS reveal that the UK's deficit on the current account balance, in percentage terms, increased in the fourth quarter of 2014 to 6.2%, the highest on record.

The figures show that the trade in goods deficit, caused largely by a deficit on manufactured goods, was partly offset by improvements in the balance on oil and semi-manufactured goods. There was also a deficit on transfers (secondary income). The financial account, which partly offsets the current account, recorded a net inflow of £62.6 billion compared with a net inflow of £49.1 billion in 2012. 

Balance of trade - recent figures

Trade Oct 2016 | amCharts

See more on the current account