Balance of Payments
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Frequency of release: Quarterly
Geographical coverage: UK
Geographical breakdown: UK
The United Kingdom’s (UK) current account deficit was £13.0 billion in Quarter 2 2013, down from a revised deficit of £21.8 billion in Quarter 1 2013. The deficit in Quarter 2 2013 equated to 3.2% of GDP at current market prices, down from 5.5% in Quarter 1 2013.
The trade deficit narrowed to £5.5 billion in Quarter 2 2013, from £6.3 billion in Quarter 1 2013.
The income deficit decreased to £0.3 billion in Quarter 2 2013, from £9.2 billion in Quarter 1 2013.
The financial account recorded net inward investment of £0.8 billion during Quarter 2 2013.
The international investment position recorded UK net liabilities of £60.0 billion at the end of Quarter 2 2013.
In 2012, the UK’s current account deficit was £59.8 billion.
The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics.
Designation can be broadly interpreted to mean that the statistics:
Once statistics have been designated as National Statistics it is a statutory requirement that the Code of Practice shall continue to be observed.