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United Kingdom Current Account to GDP Ratio

The United Kingdom's current account to GDP ratio improved to -2.2% in 2024 from -3.6% in 2023. This change resulted from an improved trade balance. The trade deficit decreased to 0.6% of GDP in 2023 from 1.7% of GDP in 2022. The deficit in trade in goods narrowed to 6.9% of GDP in 2023 from 8.2% of GDP in 2022. This was mainly due to a smaller deficit in finished manufactured goods and fuels. The primary income balance shifted from a 0.5% of GDP surplus in 2022 to a 0.7% of GDP deficit in 2023. The trade balance improvement was the main factor for the current account enhancement. United Kingdom's record low current account to GDP ratio was -5.4% in 2016 and record high was 2.8% in 1950.

Yearly Historical Data (1948-2024)

(in %)
Year Current Account to GDP Ratio
2024 -2.2%
2023 -3.6%
2022 -2.1%
2021 -0.4%
2020 -2.9%
2019 -2.7%
2018 -3.9%
2017 -3.5%
2016 -5.4%
2015 -4.9%
2014 -5%
2013 -4.6%
2012 -3.1%
2011 -1.6%
2010 -2.8%
2009 -3.1%
2008 -3.9%
2007 -3.7%
2006 -3.1%
2005 -2%
2004 -2.3%
2003 -1.8%
2002 -2%
2001 -1.8%
2000 -1.8%
1999 -2.1%
1998 -0.3%
1997 -0.1%
1996 -0.3%
1995 -0.4%
1994 -0.2%
1993 -1.1%
1992 -1.3%
1991 -1.1%
1990 -2.8%
1989 -3.8%
1988 -3.3%
1987 -1.3%
1986 -0.7%
1985 -0.1%
1984 -0.3%
1983 0.4%
1982 0.7%
1981 1.7%
1980 0.7%
1979 -0.4%
1978 0.4%
1977 -0.2%
1976 -0.7%
1975 -1.5%
1974 -3.6%
1973 -1.4%
1972 0.1%
1971 1.7%
1970 1.4%
1969 0.9%
1968 -0.6%
1967 -0.7%
1966 0.4%
1965 -0.1%
1964 -1%
1963 0.6%
1962 0.7%
1961 0.3%
1960 -0.7%
1959 0.8%
1958 1.7%
1957 1.3%
1956 1.3%
1955 -0.5%
1954 1%
1953 1.3%
1952 1.6%
1951 -2.2%
1950 2.8%
1949 0.4%
1948 0.8%
United Kingdom Current Account to GDP Ratio : Definition
The UK's current account to GDP shows the current account balance as a percentage of gross domestic product. The current account, a broad measure of international transactions, is divided by GDP. It includes trade in goods and services, net income and current transfers. A negative value indicates a deficit.
Indicator Last Value Prior Value Period
Public Sector Net Debt to GDP 95.9% 95.5% Dec'24
Interest Rate 4% 4% Sep'25
Private Credit (% GDP) 113.97% 119.76% 2024