UK's account deficit in Q3 widens to £20.7B from a revised deficit of £6.2B in previous quarter, equating to 5.1% of GDP at current market prices, up from 1.5%; trade deficit widens to £10B in Q3 from £5B in Q2

Dec 20, 2013 – Office for National Statistics (ONS) By Allison Oesterle

Headlines are rewritten for editorial clarity. The original story and headline begin below.

Original Headline: Balance of Payments, Q3 2013

Economy

LONDON , December 20, 2013 (press release) –

  • The United Kingdom’s (UK) current account deficit was £20.7 billion in Quarter 3 2013, up from a revised deficit of £6.2 billion in Quarter 2 2013. The deficit in Quarter 3 2013 equated to 5.1% of GDP at current market prices, up from 1.5% in Quarter 2 2013.
  • The trade deficit widened to £10.0 billion in Quarter 3 2013, from £5.0 billion in Quarter 2 2013.
  • The income balance switched to a deficit of £3.7 billion in Quarter 3 2013, from a surplus of £6.0 billion in Quarter 2 2013.
  • The financial account recorded net inward investment of £30.0 billion during Quarter 3 2013.
  • The international investment position recorded UK net assets of £97.6 billion at the end of Quarter 3 2013.

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Market Trends, Trade Balance, GDP