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June 28, 2024UK CURRENT ACCOUNT, Q1 Quarter vs quarter (Q1 2024 vs Q4 2023)
The United Kingdom (UK) current account deficit narrowed by £0.2 billion from Q4 2023 to Q1 2024, falling to £21.0 billion. The goods trade deficit narrowed by £2.0 billion to £41.8 billion. The services trade surplus widened by £2.0 billion to £38.5 billion. The primary income deficit widened by £2.3 billion to £10.9 billion. The secondary income deficit widened by £1.5 billion to £6.8 billion.
UK goods exports decreased 3.7% (-£3.6 billion) while imports of goods fell by 4.0% (-£5.6 billion).
UK services exports increased 1.0% (£1.2 billion) and imports of services decreased 1.0% (-£0.8 billion).
UK primary income receipts decreased 3.1% (£3.1 billion) and primary income payments decreased 0.7% (-£0.7 billion).
UK secondary income receipts decreased 0.6% (-£0.05 billion) and secondary income payments increased 11.1% (£1.5 billion).
Source: UK Office for National Statistics (ONS), released 28 June 2024, ONS website, statistical bulletin, Balance of payments, UK: January to March 2024; Balance of payments time series
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