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- The UK’s current account deficit narrowing £0.7 billion in Q4
The UK’s current account deficit narrowing £0.7 billion in Q4
The UK's current account deficit was £18.4 billion (3.6% of gross domestic product (GDP)) in Quarter 4 (Oct to Dec) 2017, a narrowing of £0.7 billion from a revised deficit of £19.2 billion (3.7% of GDP) in Quarter 3 (July to Sept) 2017.
This is the narrowest current account deficit as a percentage of GDP since Quarter 1 (Jan to Mar) 2012 when it was 3.1%.
The narrowing in the current account deficit in Quarter 4 2017 was due mostly to a narrowing of the deficits on primary income and secondary income; partially offsetting these was a widening to the deficit on total trade.
The primary income deficit narrowed by £1.8 billion to £6.6 billion in Quarter 4 2017 as UK earnings on investment abroad increased by £1.0 billion and payments to foreign investors decreased by £0.7 billion.
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