The United Kingdom recorded a Current Account deficit of 3.30 percent of the country's Gross Domestic Product in 2023. Current Account to GDP in the United Kingdom averaged -1.09 percent of GDP from 1948 until 2023, reaching an all time high of 2.80 percent of GDP in 1950 and a record low of -5.40 percent of GDP in 2016. source: Office for National Statistics

Current Account to GDP in the United Kingdom is expected to reach -4.20 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Current Account to GDP is projected to trend around -3.80 percent of GDP in 2025 and -3.60 percent of GDP in 2026, according to our econometric models.

Related Last Previous Unit Reference
Balance of Trade -2291.00 -2205.00 GBP Million Feb 2024
Capital Flows 7277.00 25858.00 GBP Million Dec 2023
Current Account -21177.00 -18524.00 GBP Million Dec 2023
Current Account to GDP -3.30 -3.10 percent of GDP Dec 2023
Exports 71133.00 71239.00 GBP Million Feb 2024
External Debt 7572360.00 7553717.00 GBP Million Dec 2023
Foreign Direct Investment -1020.00 -3935.00 GBP Million Dec 2023
Goods Trade Balance -14212.00 -14097.00 GBP Million Feb 2024
Imports 73424.00 73444.00 GBP Million Feb 2024
Tourism Revenues 2180.00 2070.00 GBP Million Dec 2023
Tourist Arrivals 2930.00 2790.00 Thousand Dec 2023

United Kingdom Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.
Actual Previous Highest Lowest Dates Unit Frequency
-3.30 -3.10 2.80 -5.40 1948 - 2023 percent of GDP Yearly