Current Account Balance in United Kingdom
The economy likely had a muted performance in Q1. After strong growth in January, GDP flatlined in February, dampened by public-sector strikes and warm weather capping the power sector. Moreover, retail sales contracted more than expected in March, suggesting a tepid end to the quarter. Turning to Q2, available data is largely promising. In April, the private-sector PMI rose to a one-year high thanks to stronger services activity—particularly related to travel, leisure and entertainment. In the same month, consumer confidence recorded the best reading since February 2022, which, together with the recent extension of the energy price cap through June, bodes well for private spending. That said, PMI data suggests that the manufacturing sector remains in a tough spot amid falling exports and destocking by firms.
United Kingdom Current Account Balance Chart
This chart displays Current Account Balance (USD bn) for United Kingdom from 2013 to 2022.
United Kingdom Current Account Balance Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Current Account Balance (USD bn) | -96.9 | -117.1 | -80.8 | -86.6 | -46.9 |