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Balance of payments, UK: January to March 2024
The underlying UK current account deficit, excluding precious metals, narrowed by £2.5 billion to £23.8 billion, or 3.5% of gross domestic product (GDP), in Quarter 1 (Jan to Mar) 2024. The UK current account deficit, when trade in precious metals is included, narrowed to £21.0 billion, or 3.1% of GDP. The total trade deficit, excluding precious metals, narrowed to £6.2 billion, as the goods deficit narrowed to £44.6 billion, and services surplus expanded to £38.5 billion. The primary income account deficit widened to £10.9 billion, or 1.6% of GDP. The UK recorded a net financial inflow of £1.2 billion, down ... (full story)