Highlights

BoP Current Account Balance SA £m

£ -32,593 m

2016 Q1

Release date:
30 June 2016

Next release:
30 September 2016
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Balance of Payments: Jan to Mar 2016

What's in the bulletin?

  • The United Kingdom’s (UK) current account deficit was £32.6 billion in Quarter 1 (January to March) 2016, down from a revised deficit of £34.0 billion in Quarter 4 (October to December) 2015. The deficit in Quarter 1 (January to March) 2016 equated to 6.9% of gross domestic product (GDP) at current market prices, down from 7.2% in Quarter 4 (October to December) 2015, which remains the largest proportion since quarterly records began in 1955.
  • The narrowing in the current account deficit was mainly due to a narrowing in the deficits on secondary income and primary income, partially offset by a slight widening in the total trade deficit.
  • The total trade deficit widened to £12.0 billion in Quarter 1 (January to March) 2016, from £11.6 billion in Quarter 4 (October to December) 2015. This was due to the trade in services surplus narrowing by £0.5 billion, partially offset by a slight narrowing in the trade in goods deficit (£0.1 billion).
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