Office for National Statistics said, the UK current account deficit widened by £0.7 billion to £23.7 billion in Quarter 4 (Oct to Dec) 2018, or 4.4% of gross domestic product (GDP), the largest deficit recorded since Quarter 3 (July to Sept) 2016 in both value and percentage of GDP terms. Annually, the UK current account deficit widened to 3.9% of GDP in 2018, compared with 3.3% in 2017.

The UK total trade deficit widened by £0.6 billion to £9.4 billion, due to a widening of the trade in goods deficit, partially offset by an improving trade in services surplus.

The primary income deficit worsened by £1.1 billion to £8.4 billion in Quarter 4 2018.

The financial account recorded a net inflow into the UK of £35.8 billion in Quarter 4 2018, an increase from an inflow of £18.0 billion in Quarter 3 2018.