The deterioration in the current account balance in recent years, leading to a record deficit of 5.4% as a percentage of nominal GDP in 2015, was largely due to UK earnings on assets overseas falling relative to the earnings of foreign investors in the UK.
In 2015, the UK recorded the largest current account deficit as a percentage of GDP among the G7 economies.
UK exports grew faster than world exports in 2015, for the first time since 2006. Within this the UK has seen increased trade activity in goods with non-EU countries, with their share exceeding that of EU countries in the last four years.
Forthcoming changes and their indicative impact on main balance of payments and international investment position (IIP) estimates, to be introduced when revised figures for the UK National Accounts and Balance of Payments, consistent with Blue Book 2017 and Pink Book 2017, are published on 29 September 2017.