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For additional information relating to this article, please contact:

Doug McCann Research and Statistics Officer
Tel: 902-424-2141Email: Douglas.McCann@novascotia.ca

September 29, 2017
UK CURRENT ACCOUNTS, Q2 2017

The UK posted a current account deficit of £23.2 billion (4.6% of GDP) in the 2nd quarter of 2017, up £0.9 billion from a revised £22.3 billion deficit posted in the 1st quarter 2017.

  • The UK goods and services trade deficit decreased by 26.9% (£2.4 billion) to £6.5 billion as the deficit in goods decreased by 6.8% (£2.3 billion) while the surplus in services grew by 0.4% (£89 million).
  • The net primary income deficit increased by 16.1% (£1.4 billion)  to £10.2 billion. 
  • The net secondary income transfers deficit increased by 41.8% (£1.9 billion)  to £6.5 billion.

 

 Total net trade deficit narrowed to £6.5 billion as net services surplus increased to £25.2 billion, and net goods deficit narrowed to £31.7 billion

 Goods exports increased £2.9 billion to £86.4 billion, while goods imports increased £571 million to £118.1 billion for a decreased deficit of £31.7 billion. 

Services exports increased £381 million to £66.2 billion, while services imports increased £292 million to £41.0 billion for an increased surplust of £25.2 billion. 




Source:
Office for National Statistics |  Data



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