The underlying UK current account deficit narrowed to £21.1 billion or 3.3% of gross domestic product (GDP) in Quarter 4 (Oct to Dec) 2022, a fall from the £26.3 billion (4.2% of GDP) deficit the previous quarter. When trade in precious metals is included, the UK current account deficit narrowed to £2.5 billion, or 0.4% of GDP in Quarter 4 2022. In Quarter 4 2022 the total trade deficit increased to £25.4 billion from £24.1 billion in the previous quarter; the goods deficit widened by £1.4 billion to £63.9 billion and the services surplus rose by £0.2 billion to £38.5 billion. The lower current account deficit in ... (full story)