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June 30, 2021UK CURRENT ACCOUNTS, 2021Q1
CURRENT ACCOUNT
Quarter over quarter (2021Q1 vs 2020Q4)
Compared to the previous quarter, the United Kingdom Office of National Statistics reported that
- the current account deficit narrowed by £13.5 billions to £12.8 billion
- goods and services trade deficit narrowed by £12.6 billions to £0.7 billion
- primary income deficit widened by £3.6 billions to £8.6 billion
- secondary income deficit narrowed by £4.5 billions to £3.6 billion
Year-over-year (2021Q1 vs 2020Q1)
Compared to the same quarter last year, the United Kingdom Office of National Statistics reported that
- the current account deficit narrowed by £6.3 billions
- goods and services deficit narrowed by £1.7 billions
- primary income deficit narrowed by £1.8 billions
- secondary income deficit narrowed by £2.7 billions
GOODS AND SERVICES
Quarter over quarter (2021Q1 vs 2020Q4)
Compared to the previous quarter, the United Kingdom Office of National Statistics reported that exports of goods decreased 7.3% (£5.9 billions) and imports of goods decreased 15.4% (£18.7 billions). As a result, goods trade deficit narrowed by £12.8 billions to £28.8 billion.
The United Kingdom Office of National Statistics reported that exports of services decreased 2.1% (£1.3 billions) and imports of services decreased 2.9% (£1.1 billions). As a result, services trade surplus narrowed by £0.3 billions to £28.2 billion.
Year-over-year (2021Q1 vs 2020Q1)
Compared to the same quarter last year, the United Kingdom Office of National Statistics reported that
- exports of goods decreased 9.9% (£8.2 billions) to £74.3 billion and
- imports of goods decreased 7.2% (£8.0 billions) to £103.1 billion.
- exports of services decreased 13.2% (£9.8 billions) to £64.4 billion and
- imports of services decreased 24.5% (£11.7 billions) to £36.2 billion.
CURRENT ACCOUNT AS A % OF GDP
Quarter over quarter (2021Q1 vs 2020Q4)
The UK's current account balance as a percentage of GDP widened by 2.4 percentage points to -2.4%.
Source:
ONS Balance of Payments Q4 2020
Office for National Statistics | Data
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