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MNI DATA BRIEF: Trade Friction Cuts UK Q1 Trade Deficit

LONDON (MNI)

The UK current account deficit fell to its lowest level since Q4 2019, with the headline number (which includes non-monetary gold) declining to GBP12.828 billion from GBP26.286 billion in Q4, the Office for National Statistics said Wednesday.

That takes the deficit to 2.4% of GDP from 4.8% at the end of 2020. Excluding precious metals, the trade deficit narrowed by GBP9.5 billion, as goods imports fell by more than exports. That decreased the underlying current account deficit to GB12.7 billion (2.3% of GDP) from GBP22.8 billion (4.2% of GDP) in Q4.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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