The current account deficit in the UK unexpectedly narrowed to GBP 8.6 billion or 1.5% of the GDP in the June quarter of 2021 from a downwardly revised GBP 8.8 billion in the previous period and compared to market forecasts of GBP 15.6 billion. Total trade saw a GBP 0.7 billion surplus, switching from a GBP 4.1 billion deficit, as exports rose faster than imports, as the global economic recovery advanced at full steam amid quicker vaccination drives.The primary income deficit widened sharply to GBP 5.5 billion from GBP 1.1 billion, due to a decrease in UK residents’ investments abroad. The secondary income deficit narrowed slightly to GBP 3.8 billion from GBP 3.6 billion, even as gross national income-based payments to the EU resumed under the withdrawal agreement with effect from the second quarter of 2021. source: Office for National Statistics
Current Account in the United Kingdom averaged -4965.90 GBP Million from 1946 until 2021, reaching an all time high of 2668 GBP Million in the first quarter of 1981 and a record low of -34541 GBP Million in the first quarter of 2019. This page provides the latest reported value for - United Kingdom Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Current Account - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
Current Account in the United Kingdom is expected to be -20000.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Current Account is projected to trend around -22600.00 GBP Million in 2022 and -17600.00 GBP Million in 2023, according to our econometric models.