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- The UK’s current account deficit was £20.3 billion in Quarter 2
The UK’s current account deficit was £20.3 billion in Quarter 2
The UK's current account deficit was £20.3 billion (3.9% of gross domestic product (GDP)) in Quarter 2 (Apr to June) 2018, a widening of £4.6 billion from a revised deficit of £15.7 billion (3.0% of GDP) in Quarter 1 (Jan to Mar) 2018 and the widest deficit since Quarter 2 2017.
The UK's current account deficit widened in Quarter 2 2018, due mainly to a widening of the trade in goods and primary income deficits.
The total trade in goods deficit widened by £2.7 billion to £34.7 billion in Quarter 2 2018, from £32.0 billion in Quarter 1 2018, the largest increase to the deficit since Quarter 3 (July to Sept) 2016 (£8.0 billion); this can be partly attributed to movements in erratics, which include aircraft and non-monetary gold, and an increase in the price of oil.
The primary income deficit widened by £2.1 billion in Quarter 2 2018 to £8.8 billion from a revised deficit of £6.7 billion in Quarter 1 2018; this was due to payments on investment income rising more than receipts.
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