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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

September 30, 2019
UK CURRENT ACCOUNTS, Q2 2019

The United Kingdom the Office of National Statistics reported that in 2019 Q2, the Current account trade deficit narrowed by £7.9 billions to £25.2 billion to compared to 2019 Q1.

Compared to the previous quarter,

  • the Net Goods trade deficit narrowed by £3.9 billions to £34.1 billion.
  • the Net Services trade surplus narrowed by £2.6 billions to £22.7 billion.
  • the Net G&S trade deficit narrowed by £11.4 billions to £11.4 billion.
  • the Primary Income trade deficit widened by £3.7 billions to £7.1 billion.
  • the Secondary Income trade deficit narrowed by £0.2 billions to £6.7 billion.

 

 

Goods exports decreased £4.6 billion to £85.4 billion, and goods imports decreased £18.6 billion to £119.6 billion for a decreased deficit of £34.1 billion. 

 

Services exports decreased £5.3 billion to £71.5 billion, and services imports decreased £2.7 billion to £48.7 billion, for a decreased surplus of £22.7 billion.

 

OECD calculation: The ratio of a country's current account to its nominal gross domestic product provides an indicator of the

balance of international payments to gross domestic product. In 2019 Q1, the CA/GDP ratio declined 1.2 percentage points to -5.6%, over the previous quarter.



Source:
Office for National Statistics |  Data

OECD Data



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