- The United Kingdom’s (UK) current account deficit was £20.8 billion in the second quarter of 2012, up from a revised deficit of £15.4 billion in the previous quarter.
- The trade deficit widened to £10.1 billion in the second quarter of 2012, up from £8.1 billion in the previous quarter.
- The income deficit widened to £5.2 billion, up from £1.9 billion in the first quarter of 2012.
- The financial account recorded net inward investment of £11.1 billion during the second quarter of 2012.
- The international investment position recorded UK net liabilities of £325.8 billion at the end of the second quarter of 2012.
Contains summary of balance of payments accounts and detailed statistics for the current account including - trade in goods and services, income, current and capital transfers, transactions in UK external assets and liabilities, and levels of identified assets and liabilities.
The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics.
Designation can be broadly interpreted to mean that the statistics:
- meet identified user needs;
- are well explained and readily accessible;
- are produced according to sound methods; and
- are managed impartially and objectively in the public interest.
Once statistics have been designated as National Statistics it is a statutory requirement that the Code of Practice shall continue to be observed.