The UK’s current account deficit was £28.7 billion in Quarter 2 (April to June) 2016, up from a revised deficit of £27.0 billion in Quarter 1 (January to March) 2016. The deficit in Quarter 2 2016 equated to 5.9% of gross domestic product (GDP) at current market prices, up from 5.7% in Quarter 1 2016.
The widening in the current account deficit was mainly due to a widening in the deficits on trade and secondary income, partially offset by a narrowing in the primary income deficit.
The total trade deficit widened to £12.7 billion in Quarter 2 2016, from £10.0 billion in Quarter 1 2016. This was due to the trade in goods deficit widening by £1.8 billion and a £0.9 billion narrowing in the trade in services surplus.
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