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December 23, 2024UK CURRENT ACCOUNT, Q3 Quarter vs quarter (Q3 2024 vs Q2 2023)

The United Kingdom (UK) current account deficit narrowed by £5.9 billion from Q2 2024 to Q3 2024, rising to a deficit of £18.1 billion. The goods trade deficit narrowed by £9.9 billion to £49.2 billion. The services trade surplus narrowed by £2.4 billion to £44.4 billion. The primary income deficit widened by £2.7 billion to £10.5 billion. The secondary income deficit narrowed by £1.1 billion to £2.7 billion.
UK goods exports declined by 0.7% (-£0.6 billion) while imports of goods fell by 6.9% (-£10.5 billion).

UK services exports decreased by 1.5% (-£1.8billion) and imports of services increased by 0.9% (+£0.6 billion).

UK primary income receipts increased by 2.7% (+£2.7 billion) and primary income payments increased by 5.0% (+£5.4 billion).

UK secondary income receipts increased by 0.2% (+£0.13 billion) and secondary income payments decreased by 9.4% (-£1.1 billion).

Source: UK Office for National Statistics (ONS), released 23 December 2024, ONS website, statistical bulletin, Balance of payments, UK: January to March 2024; Balance of payments time series
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