Current Account in United Kingdom

United Kingdom Current Account (GBP bn) | Economic News & Forecasts

United Kingdom - Current Account (billions of British pounds)

The economy likely recovered some lost ground in Q3 following Q2’s record contraction. GDP rose solidly in July and August, while retail sales were robust throughout the quarter. However, PMI data suggests the recovery lost momentum in September and early in Q4, due to the snap-back of restrictions at home and abroad. In response to tougher domestic Covid-19 measures, the government has recently ramped up fiscal support, announcing a revamped version of the furlough scheme for firms forced to close temporarily, in addition to a previously announced pledge to pay part of the wages of employees working less than normal hours. However, the support will likely be unable to prevent a sharp rise in unemployment in the coming months. On Brexit, talks with the EU have intensified in recent days. Reaching a trade deal will be vital to minimizing economic damage once the transition period ends on 31 December.

United Kingdom - Current Account (GBP bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (GBP bn)-94.0  -104.0  -72.3  -82.9  -83.8  

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United Kingdom Current Account (GBP bn) Chart


United Kingdom Current Account
Note: Current account balance as % of GDP.
Source: Office for National Statistics (ONS).

United Kingdom Facts

Value Change Date
Bond Yield0.83-3.04 %Jan 01
Exchange Rate1.33-0.35 %Jan 01

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