UK current account deficit widens to £23.5 billion in Q1
The UK’s current account deficit rose to £23.5 billion in the first quarter of 2025, up from £21 billion in the previous quarter, according to data released by the Office for National Statistics. The figure came in worse than economists’ expectations, which had pointed to a deficit of £19.7 billion.
Breaking down the numbers, the trade in goods recorded a deficit of £55.3 billion, while the surplus in services stood at £47.8 billion. Overall, the trade balance showed a shortfall of £7.5 billion.
The wider current account gap highlights continued pressure on the UK’s external position, amid ongoing geopolitical tensions, international tariffs, and subdued global demand.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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