Balance of payments UK - April to June 2025

1st October 2025

The underlying UK current account deficit, excluding precious metals, widened to £23.8 billion or 3.2% of gross domestic product (GDP), in Quarter 2 (Apr to June) 2025; this is a change of £7.3 billion compared with the deficit of £16.5 billion (revised from £18.6 billion) for the previous quarter.

The UK current account deficit, including trade in precious metals, widened by £7.7 billion to £28.9 billion, or 3.8% of GDP, in Quarter 2 2025.

The total trade deficit, excluding precious metals, widened to £2.8 billion (0.4% of GDP) in Quarter 2 2025, compared with £2.5 billion (revised from £7.5 billion) in the previous quarter; the goods deficit widened to £56.6 billion, and the services surplus increased to £53.8 billion.

The primary income account deficit widened to £16.8 billion, or 2.2% of GDP in Quarter 2 2025.

There was a net financial inflow of £33.0 billion in Quarter 2 2025.

The preliminary estimate of the UK's net international investment liability position on 30 June 2025 widened to £341.8 billion, from £324.4 billion (revised from £371.5 billion), as of 31 March 2025.

Data for all quarters have been fully open to revision, with revisions to "current account, excluding precious metals" data ranging from negative 1.3% to positive 1.1% of GDP; revisions resulted from improved methods and updated Trade in goods and services and Foreign direct investment data.

Read the full ONS report HERE