Sunday May 31, 2020

British current account deficit still near record levels

Brexit vote has heightened balance of payments concerns

30th June, 2016
Bank of England Governor Mark Carney has warned about the current account deficit Pic: Getty

As Brexit threatens to blast the British economy, few things seem more exposed than the balance of payments.

The current account deficit – the difference between money coming into Britain and money sent out – stood at at higher-than-predicted £32.6 billion in the first quarter, or 6.9 per cent of economic output, the Office for National Statistics said this morning. That is just below a record 7.2 per cent in the fourth quarter of 2015.

Separately, the ONS...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The former NTMA head says he is ‘quite alarmed’ at the potential for legal actions over the large number of deaths in nursing homes during the crisis

Michael Brennan | 4 weeks ago

Oil storage in the self-styled ‘Pipeline Crossroads of the World’ is full to the brim, but the black stuff keeps on coming. With much of the world’s economy in a Covid-19 slowdown, at one point last week, benchmark US crude oil was priced at minus $37.63 a barrel

Barry J Whyte | 1 month ago

Every time Donald Trump spoke on the Covid-19 crisis last week, the stock markets plunged by another point

Marion McKeone | 2 months ago