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UK Balance of Payments, Q4 and Annual 2014
The United Kingdom’s (UK) current account deficit was £25.3 billion in Quarter 4 2014, down from a revised deficit of £27.7 billion in Quarter 3 2014. The deficit in Quarter 4 2014 equated to 5.6% of GDP at current market prices, down from 6.1% in Quarter 3 2014 The narrowing of the current account deficit was mainly due to a narrowing in the deficit on the trade account, partially offset by a widening in the deficit on the secondary income account The trade deficit narrowed to £6.0 billion in Quarter 4 2014, from £10.2 billion in Quarter 3 2014. This was mainly due to a narrowing in the trade in goods deficit, ... (full story)