Key information about UK Current Account Balance

• United Kingdom Current Account recorded a deficit of 13.1 USD bn in Mar 2023, compared with a deficit of 2.9 USD bn in the previous quarter.
• UK Current Account Balance: USD mn data is updated quarterly, available from Mar 1957 to Mar 2023, with an averaged value of -1.7 USD bn.
• The data reached an all-time high of 6.5 USD bn in Mar 1981 and a record low of -67.7 USD bn in Mar 2022.
• CEIC converts quarterly Current Account Balance into USD. Office for National Statistics provides Current Account Balance in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.
• Foreign Direct Investment (FDI) fell by 37.8 USD bn in Mar 2023.
• UK Direct Investment Abroad expanded by 14.7 USD bn in Mar 2023.
• Its Foreign Portfolio Investment fell by 33.0 USD bn in Mar 2023.
• The country's Nominal GDP was reported at 786.4 USD bn in Mar 2023.

Current account balance (% of GDP) in United Kingdom was reported at --2.652 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. United Kingdom - Current account balance (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

United Kingdom UK: BOP: Current Account: Balance: % of GDP data was reported at -4.061 % in 2017. This records an increase from the previous number of -5.842 % for 2016. United Kingdom UK: BOP: Current Account: Balance: % of GDP data is updated yearly, averaging -1.817 % from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 2.612 % in 1981 and a record low of -5.842 % in 2016. United Kingdom UK: BOP: Current Account: Balance: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Current account balance is the sum of net exports of goods and services, net primary income, and net secondary income.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files, and World Bank and OECD GDP estimates.; ; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Current account balance (BoP, current US$) in United Kingdom was reported at --74863145240 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. United Kingdom - Current account balance (BoP, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Quarterly transactions in trade in goods and services, primary, secondary and investment income, transactions with EU and non-EU countries and capital account.

United Kingdom UK: BOP: Current Account: Exports: Service: Insurance and Financial Services: % of Service Exports data was reported at 29.354 % in 2017. This records a decrease from the previous number of 32.519 % for 2016. United Kingdom UK: BOP: Current Account: Exports: Service: Insurance and Financial Services: % of Service Exports data is updated yearly, averaging 27.228 % from Dec 1986 (Median) to 2017, with 32 observations. The data reached an all-time high of 35.974 % in 2007 and a record low of 13.995 % in 1989. United Kingdom UK: BOP: Current Account: Exports: Service: Insurance and Financial Services: % of Service Exports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Weighted average; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

The United Kingdom recorded a Current Account deficit of 23500 GBP Million in the first quarter of 2025. This dataset provides the latest reported value for - United Kingdom Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about United Kingdom Current Account Balance: % of GDP

• United Kingdom Current Account deficit accounted for 2.5 % of the country's Nominal GDP in Sep 2024, compared with a 3.4 % deficit in the previous quarter.
• UK Current Account Balance: % of Nominal GDP data is updated quarterly, available from Mar 1955 to Sep 2024, with an average value of -1.0 %.
• The data reached an all-time high of 4.0 % in Mar 1981 and a record low of -6.9 % in Dec 2014.

• In the latest reports of UK, Current Account recorded a deficit of 13.1 USD bn in Mar 2023.
• Foreign Direct Investment (FDI) fell by 8.6 USD bn in Sep 2024.
• UK Direct Investment Abroad fell by 7.0 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 2.8 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 786.4 USD bn in Mar 2023.

Current account balance (% of GDP) of United Kingdom decreased by 2.83% from -2.3 % in 2022 to -2.2 % in 2023. Since the 10.18% surge in 2020, current account balance (% of GDP) sank by 25.15% in 2023. Current account balance is the sum of net exports of goods, services, net income, and net current transfers.

United Kingdom UK: BOP: Current Account: Balance data was reported at -106.505 USD bn in 2017. This records an increase from the previous number of -154.873 USD bn for 2016. United Kingdom UK: BOP: Current Account: Balance data is updated yearly, averaging -18.371 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 14.127 USD bn in 1981 and a record low of -161.162 USD bn in 2014. United Kingdom UK: BOP: Current Account: Balance data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Current account balance is the sum of net exports of goods and services, net primary income, and net secondary income. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; ; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

United Kingdom Balance of Payments (BoP): sa: Current Account (CA) data was reported at -21,028.000 GBP mn in Dec 2024. This records a decrease from the previous number of -12,488.000 GBP mn for Sep 2024. United Kingdom Balance of Payments (BoP): sa: Current Account (CA) data is updated quarterly, averaging -889.500 GBP mn from Mar 1955 (Median) to Dec 2024, with 280 observations. The data reached an all-time high of 11,056.000 GBP mn in Dec 2022 and a record low of -39,615.000 GBP mn in Mar 2022. United Kingdom Balance of Payments (BoP): sa: Current Account (CA) data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.JB001: BPM6: Balance of Payments.

United Kingdom UK: BOP: Current Account: Primary Income: Payments data was reported at 268.751 USD bn in 2017. This records an increase from the previous number of 255.268 USD bn for 2016. United Kingdom UK: BOP: Current Account: Primary Income: Payments data is updated yearly, averaging 137.610 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 635.366 USD bn in 2007 and a record low of 2.155 USD bn in 1970. United Kingdom UK: BOP: Current Account: Primary Income: Payments data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Primary income payments refer to employee compensation paid to nonresident workers and investment income (payments on direct investment, portfolio investment, other investments). Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Sum; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

The United Kingdom's banking landscape in 2024 revealed a competitive field dominated by established institutions, with ******** leading the pack with ** million customers worldwide. **** followed closely with ** million customers, showcasing the enduring strength of traditional banks despite the rise of digital challengers. Interestingly, customer numbers don't necessarily correlate with satisfaction, as online banks like Starling Bank, First Direct, and Monzo Bank topped the charts for customer contentment. Market dominance and financial performance While ******** boasts the largest customer base, HSBC maintains its position as the UK's largest bank by market capitalization. As of December 31, 2024, HSBC's market value reached approximately ****** billion U.S. dollars, rebounding to pre-pandemic levels and solidifying its status as Europe's largest bank by market value. This financial strength is further reflected in HSBC's annual revenue, which towered at **** billion British pounds in 2024. Digital transformation and customer retention The banking sector's shift towards digital services has led to widespread branch closures among the UK's "big four" banks, with Barclays, Lloyds, and NatWest each shuttering over 1,000 locations between 2017 and 2024. This transition, while improving efficiency, has also resulted in significant job losses. Despite these changes, some traditional banks have managed to maintain strong customer loyalty. Nationwide, for instance, led UK banks in net current account gains in the third quarter of 2024, attracting over ****** new customers through the Current Account Switch Service. However, digital challengers like Revolut have made significant inroads, with the London-based neobank reporting over ** million global customers by November 2024, highlighting the growing appeal of digital-only banking solutions.

United Kingdom UK: BOP: Current Account: Net Trade: Goods data was reported at -174.681 USD bn in 2017. This records an increase from the previous number of -182.916 USD bn for 2016. United Kingdom UK: BOP: Current Account: Net Trade: Goods data is updated yearly, averaging -22.280 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 6.960 USD bn in 1981 and a record low of -202.469 USD bn in 2014. United Kingdom UK: BOP: Current Account: Net Trade: Goods data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Net trade in goods is the difference between exports and imports of goods. Trade in services is not included. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; ; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

United Kingdom UK: BOP: Current Account: Secondary Income: Other Sectors: Payments data was reported at 26.555 USD bn in 2017. This records a decrease from the previous number of 26.830 USD bn for 2016. United Kingdom UK: BOP: Current Account: Secondary Income: Other Sectors: Payments data is updated yearly, averaging 15.388 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 32.354 USD bn in 2008 and a record low of 583.200 USD mn in 1970. United Kingdom UK: BOP: Current Account: Secondary Income: Other Sectors: Payments data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Secondary income refers to transfers recorded in the balance of payments whenever an economy provides or receives goods, services, income, or financial items without a quid pro quo. All transfers not considered to be capital are current. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Sum; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

United Kingdom UK: BOP: Current Account: Trade in Services: % of GDP data was reported at 22.237 % in 2017. This records an increase from the previous number of 20.910 % for 2016. United Kingdom UK: BOP: Current Account: Trade in Services: % of GDP data is updated yearly, averaging 12.297 % from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 22.237 % in 2017 and a record low of 9.212 % in 1991. United Kingdom UK: BOP: Current Account: Trade in Services: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Trade in services is the sum of service exports and imports divided by the value of GDP, all in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files, and World Bank and OECD GDP estimates.; Weighted average; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

United Kingdom UK: BOP: Current Account: Secondary Income: Receipts data was reported at 24.816 USD bn in 2017. This records an increase from the previous number of 24.548 USD bn for 2016. United Kingdom UK: BOP: Current Account: Secondary Income: Receipts data is updated yearly, averaging 13.993 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 32.238 USD bn in 2006 and a record low of 552.000 USD mn in 1970. United Kingdom UK: BOP: Current Account: Secondary Income: Receipts data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Secondary income refers to transfers recorded in the balance of payments whenever an economy provides or receives goods, services, income, or financial items without a quid pro quo. All transfers not considered to be capital are current. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Sum; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

United Kingdom UK: BOP: Current Account: Exports: Service data was reported at 360.589 USD bn in 2017. This records an increase from the previous number of 341.054 USD bn for 2016. United Kingdom UK: BOP: Current Account: Exports: Service data is updated yearly, averaging 67.076 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 364.878 USD bn in 2014 and a record low of 8.117 USD bn in 1970. United Kingdom UK: BOP: Current Account: Exports: Service data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Services refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Gap-filled total; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards. Manufacturing services on physical inputs owned by others (goods for processing in BPM5) and maintenance and repair services n.i.e. are reclassified from goods to services.

United Kingdom Balance of Payments: Current Account data was reported at -14,015.000 GBP mn in Dec 2024. This records an increase from the previous number of -18,373.000 GBP mn for Sep 2024. United Kingdom Balance of Payments: Current Account data is updated quarterly, averaging -805.500 GBP mn from Mar 1955 (Median) to Dec 2024, with 280 observations. The data reached an all-time high of 12,965.000 GBP mn in Dec 2022 and a record low of -41,940.000 GBP mn in Mar 2022. United Kingdom Balance of Payments: Current Account data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.JB001: BPM6: Balance of Payments.

United Kingdom UK: BOP: Current Account: Imports: Goods data was reported at 615.907 USD bn in 2017. This records an increase from the previous number of 590.976 USD bn for 2016. United Kingdom UK: BOP: Current Account: Imports: Goods data is updated yearly, averaging 219.744 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 691.727 USD bn in 2014 and a record low of 19.541 USD bn in 1970. United Kingdom UK: BOP: Current Account: Imports: Goods data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Balance of Payments: Current Account. Goods imports refer to all movable goods (including nonmonetary gold) involved in a change of ownership from nonresidents to residents. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Gap-filled total; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.