The underlying UK current account deficit excluding precious metals expanded to £26.3 billion, or 3.9% of gross domestic product (GDP), in Quarter 4 (Oct to Dec) 2023, a widening of £5.9 billion from Quarter 3 (July to Sept) 2023. The UK current account deficit when trade in precious metals is included, increased to £21.2 billion, or 3.1 % of GDP. The total trade deficit excluding precious metals expanded by £3.9 billion to £12.5 billion (1.8% of GDP) as the goods deficit widened to £49.0 billion and services surplus narrowed to £36.5 billion in Quarter 4 2023. The primary income account deficit widened to £8.5 ... (full story)