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Balance of payments, UK: January to March 2019
The UK current account deficit widened by £6.3 billion to £30.0 billion in Quarter 1 (Jan to Mar) 2019, or 5.6% of gross domestic product (GDP); the fifth-highest on record as a percentage of GDP. The UK total trade deficit more than doubled to a record £20.3 billion in Quarter 1 (Jan to Mar) 2019, or 3.7% of GDP, and was the main contributor to the UK’s widening current account deficit. This marked the fifth consecutive quarter of deterioration for the UK’s total trade deficit; the last time the UK’s trade deficit was over 3% of GDP was Quarter 2 (Apr to June) 2002. The value of goods imported increased by ... (full story)