Balance of payments, UK: October through December 2025

UK Current Account and Trade Deficit Update for Q4 2025

During the fourth quarter of 2025 (October to December), the UK's underlying current account deficit—excluding the impact of precious metals—fell to £8.4 billion, representing 1.1% of the country's GDP. This marks an improvement of £0.6 billion from the previous quarter's deficit of £9.0 billion (which was previously reported as £10.5 billion).

However, when including transactions involving precious metals, the current account deficit expanded by £7.7 billion, reaching £18.4 billion, or 2.4% of GDP, for the same period.

The overall trade deficit, not counting precious metals, also saw a reduction, dropping to £2.2 billion (0.3% of GDP) in the fourth quarter of 2025, compared to a revised figure of £4.1 billion in the prior quarter.