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March 28, 2025UK CURRENT ACCOUNT, Q4 2024 Quarter vs quarter (Q4 2024 vs Q3 2024)
The United Kingdom (UK) current account deficit increased by £8.5 billion from Q3 2024 to Q4 2024, rising to a deficit of £21.0 billion. The goods trade deficit increased by £9.1 billion to £61.8 billion. The services trade surplus widened by £0.6 billion to £49.3 billion. The primary income deficit narrowed by £2.1 billion to £3.5 billion. The secondary income deficit widened by £2.2 billion to £5.0 billion.
UK goods exports declined by 5.9% (-£5.5 billion) while imports of goods rose by 2.5% (+£3.6 billion).
UK services exports increased by 2.8% (+£3.5 billion) and imports of services increased by 3.8% (+£2.9 billion).
UK primary income receipts decreased by 1.5% (-£1.5 billion) and primary income payments decreased by 3.3% (-£3.7 billion).
UK secondary income receipts increased by 4.4% (+£0.3 billion) and secondary income payments increased by 24.4% (+£2.5 billion).
Source: UK Office for National Statistics (ONS), released 23 December 2024, ONS website, statistical bulletin, Balance of payments, UK: Q4 2024; Balance of payments time series