The underlying UK current account deficit excluding precious metals narrowed to £18.6 billion, or 2.5% of gross domestic product (GDP), in Quarter 1 (Jan to Mar) 2025; this is a change of £0.1 billion from the deficit of £18.7 billion for the previous quarter. The UK current account deficit, when trade in precious metals is included, expanded by £2.4 billion to £23.5 billion, or 3.2% of GDP in Quarter 1 2025. The total trade deficit, excluding precious metals, narrowed to £7.5 billion (1.0% of GDP) in Quarter 1 2025, from £10.2 billion in the previous quarter, as the goods deficit narrowed to £55.3 billion, and the ... (full story)