UK current account balance

Source: Office for National Statistics (ONS), series AA6H. Quarterly, with the quarterly national accounts about three months after the quarter ends, 7am; next release 22 December 2026

UK current account balance: every value, by year, with a CSV download →

What it measures

The current account records the UK's transactions with the rest of the world that do not involve buying or selling assets: trade in goods and services, income from investments and employment across borders (primary income), and transfers such as contributions to international organisations and remittances (secondary income). A deficit means the UK as a whole, including households, businesses and government, spent and paid out more abroad than it earned. It is financed by a net inflow of money, recorded in the financial account. The figure shown is the balance as a percentage of GDP.

How to read it

Expressing the balance as a share of GDP allows comparison across decades and with other countries. This headline includes precious metals; the ONS also publishes an underlying measure excluding them, which was a deficit of 1.4% of GDP in April to June 2026, compared with 2.5% including them. Primary income can swing sharply with the profits earned by foreign-owned companies in the UK and UK companies abroad. All quarters are open to revision, and the ONS says revisions can be large, especially for investment income. A current account deficit is a different thing from the Government's budget deficit, shown on the borrowing page.

Background

The ONS quarterly series starts in 1955. The highest surplus in the series is 4.0% of GDP, in January to March 1981, and the last calendar year with a surplus was 1983. Since then surpluses have been rare single quarters, most recently 0.8% of GDP in October to December 2022. The largest deficit in the series is 6.6% of GDP, in October to December 2014. The annual series starts in 1948.

What is the UK current account deficit now?

When this page was checked on 13 October 2026, the ONS estimated a current account deficit of £19.9 billion, or 2.5% of GDP, in April to June 2026, published on 30 September 2026. Excluding precious metals, the underlying deficit was £11.3 billion, or 1.4% of GDP. The next estimate was due on 22 December 2026.

Why does the UK run a current account deficit?

The ONS breaks the balance into parts rather than giving a single cause. In April to June 2026 the trade deficit excluding precious metals was 0.5% of GDP and the primary income deficit 0.5% of GDP, with the rest from transfers and precious metals. Years of deficits add to the UK's net liabilities to the rest of the world, which the ONS put at £196.8 billion on 30 June 2026.

How is the current account deficit financed?

Every current account deficit is matched in the financial account by a net inflow, such as foreign purchases of UK shares, bonds or property, or borrowing from abroad. The ONS reported a net financial inflow of £29.7 billion in April to June 2026; the difference from the deficit is recorded as net errors and omissions.

Is the current account the same as a current bank account?

No. Many searches for the UK current account are about personal bank accounts. This page is about the balance of payments: the economy-wide record of the UK's transactions with the rest of the world.

Related questions

• What is the UK current account deficit?
• What is the UK trade deficit?
• How do I look up UK trade data by country or product?
• How big is the UK economy (GDP)?

More on this source: UK trade statistics (ONS, HMRC uktradeinfo and Department for Business and Trade)