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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, 2020
UK CURRENT ACCOUNTS, Q2 2020

Quarter over quarter (2020Q1 vs 2020Q2)

The United Kingdom the Office of National Statistics reported that the Current account deficit narrowed by £18.1 billions to £2.8 billion

  • Goods and Services trade surplus widened by £16.4 billions to £16.9 billion 
  • Goods trade deficit narrowed by £16.0 billions to £13.2 billion 
  • Services trade surplus widened by £0.5 billions to £30.1 billion 
  • Primary Income deficit narrowed by £4.3 billions to £10.5 billion 
  • Secondary Income deficit widened by £2.7 billions to £9.1 billion

Quarter over quarter (2020Q1 vs 2020Q2)

In the United Kingdom, the Office of National Statistics reported that

  • Exports of Goods decreased 10.0% (£8.2 billions)
  • Imports of Goods decreased 21.7% (£24.1 billions)
  • As a result, Goods trade deficit narrowed by £16.0 billions to £13.2 billion

 

In the United Kingdom, the Office of National Statistics reported that

  • Exports of Services decreased 15.8% (£12.4 billions)
  • Imports of Services decreased 26.4% (£12.9 billions)
  • As a result, Services trade surplus widened by £0.5 billions to £30.1 billion

 

Current Account as a % of GDP

In 2020Q2, the UK's Current Account Balance Share of GDP narrowed by 3.1 percentage points to -0.6%.

 



Source:
Office for National Statistics |  Data

 



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