The current account deficit in the UK narrowed sharply to GBP 7.3 billion or 1.2% of the GDP in the fourth quarter of 2021 from an upwardly revised GBP 28.9 billion gap in the previous period and compared to market forecasts of GBP 17.6 billion. The total trade gap narrowed to GBP 10.3 billion, from GBP 13.7 billion, as service exports grew at a stronger pace than imports, namely in exports of transport, intellectual property, and business services. The primary income account switched to a surplus of GBP 4.7 billion, from a GBP 7.0 billion shortfall in Q3, as UK investments abroad saw higher returns than what investments in the UK provided to foreigners. The secondary income deficit widened to GBP 5.8 billion from GBP 5.4 billion amid ongoing payments to the EU under the withdrawal agreement. source: Office for National Statistics

Current Account in the United Kingdom averaged -4953.75 GBP Million from 1946 until 2021, reaching an all time high of 2817 GBP Million in the fourth quarter of 2019 and a record low of -32541 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 June of 2022.

Current Account in the United Kingdom is expected to be -15200.00 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 -25500.00 GBP Million in 2023 and -24400.00 GBP Million in 2024, according to our econometric models.

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United Kingdom Current Account



Calendar GMT Actual Previous Consensus TEForecast
2021-12-22 07:00 AM Q3 £-24.444B £-13.462B £-15.6B £-20B
2022-03-31 06:00 AM Q4 £-7.3B £-28.9B £-17.6B £-15.2B
2022-06-30 06:00 AM Q1 £-7.3B £-39.8B £-15.6B


Related Last Previous Unit Reference
Balance of Trade -8503.00 -11552.00 GBP Million Apr 2022
Current Account -7300.00 -28917.00 GBP Million Dec 2021
Current Account to GDP -3.50 -3.10 percent of GDP Dec 2020
Imports 66881.00 67639.00 GBP Million Apr 2022
Exports 58378.00 56087.00 GBP Million Apr 2022
External Debt 7344995.00 7175906.00 GBP Million Dec 2021
Capital Flows 12283.00 23288.00 GBP Million Dec 2021
Foreign Direct Investment -10541.00 10789.00 GBP Million Dec 2021
Goods Trade Balance -20893.00 -23897.00 GBP Million Apr 2022
Tourist Arrivals 1308.00 277.00 Thousand Sep 2021
Tourism Revenues 1152.00 386.00 GBP Million Sep 2021
Terms of Trade 101.80 101.50 points Apr 2018

United Kingdom Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
-7300.00 -28917.00 2817.00 -32541.00 1946 - 2021 GBP Million Quarterly
SA

News Stream
UK Current Account Gap Narrows Sharply
The current account deficit in the UK narrowed sharply to GBP 7.3 billion or 1.2% of the GDP in the fourth quarter of 2021 from an upwardly revised GBP 28.9 billion gap in the previous period and compared to market forecasts of GBP 17.6 billion. The total trade gap narrowed to GBP 10.3 billion, from GBP 13.7 billion, as service exports grew at a stronger pace than imports, namely in exports of transport, intellectual property, and business services. The primary income account switched to a surplus of GBP 4.7 billion, from a GBP 7.0 billion shortfall in Q3, as UK investments abroad saw higher returns than what investments in the UK provided to foreigners. The secondary income deficit widened to GBP 5.8 billion from GBP 5.4 billion amid ongoing payments to the EU under the withdrawal agreement.
2022-03-31
UK Current Account Shortfall Widens More than Expected
The current account deficit in the UK widened sharply to GBP 24.4 billion or 4.2% of the GDP in the third quarter of 2021 from an upwardly revised GBP 13.5 billion in the previous period and compared to market forecasts of GBP 15.6 billion. The total trade gap widened to GBP 10.9 billion, from GBP 3.0 billion, as imports increased and exports fell, amid an evolving international trade environment due to Brexit and the pandemic. The primary income shortfall widened to GBP 7.1 billion from GBP 5.6 billion, as higher outflows from earnings of domestic businesses more than offset an increase in inflows of returns from foreign investments. The secondary income deficit widened to GBP 6.4 billion from GBP 4.8 billion, as the first full quarter of payments to the EU under the withdrawal agreement.
2021-12-22
UK Current Account Deficit Unexpectedly Narrows
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.
2021-09-30