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October 01, 2021UK CURRENT ACCOUNTS, 2021Q2
CURRENT ACCOUNT
Quarter over quarter (2021Q2 vs 2021Q1)
Compared to the previous quarter, the United Kingdom Office of National Statistics reported that
- the current account deficit narrowed by £0.3 billions to £8.6 billion
- goods and services trade surplus changed £4.9 billions to £0.7 billion
- primary income deficit widened by £4.4 billions to £5.5 billion
- secondary income deficit widened by £0.2 billions to £3.8 billion
Year-over-year (2021Q2 vs 2020Q2)
Compared to the same quarter last year, the United Kingdom Office of National Statistics reported that
- the current account deficit widened £2.4 billion.
- goods and services surplus narrowed by £17.1 billion.
- primary income deficit narrowed by £9.7 billion.
- secondary income deficit narrowed by £5.0 billion.
GOODS AND SERVICES
Quarter over quarter (2021Q2 vs 2021Q1)
Compared to the previous quarter, the United Kingdom Office of National Statistics reported that exports of goods increased 14.9% (£10.9 billions), and imports of goods increased 4.2% (£4.7 billions). As a result, goods trade deficit narrowed by £6.1 billions to £32.6 billion.
The United Kingdom Office of National Statistics reported that exports of services decreased 1.2% (£0.8 billions) and imports of services increased 1.2% (£0.4 billions). As a result, services trade surplus narrowed by £1.3 billions to £33.3 billion.
Year-over-year (2021Q2 vs 2020Q2)
Compared to the same quarter last year, the United Kingdom Office of National Statistics reported that
- exports of goods increased 15.9% (£11.5 billions) to £83.9 billion.
- imports of goods increased 32.9% (£28.8 billions) to £116.5 billion.
- Exports of services decreased 0.1% (£0.1 billions) to £69.7 billion.
- imports of services decreased 1.1% (£0.4 billions) to £36.4 billion.
CURRENT ACCOUNT AS A % OF GDP
Quarter over quarter (2021Q1 vs 2020Q4)
The UK's current account balance as a percentage of GDP narrowed by 0.1 percentage points to -1.5%.
Source:
ONS Balance of Payments Q2 2021
Office for National Statistics | Data
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