Balance of Payments, 2020 Q1

Index to tables

Records

A Summary of Balance of Payments

B Current account

C Current account: Transactions with the EU and non-EU countries

D Summary of International investment position, financial account and investment account

E Trade in goods

F Trade in services

G Primary income

H Secondary income

I Capital account

J Financial account

K International investment position

R1 Summary of revisions since last Balance of Payments Statistical Bulletin

R2 Current account revisions since last Balance of Payments Statistical Bulletin

R3 Revisions to international investment since last Balance of Payments Statistical Bulletin

Source: Office for National Statistics © Crown Copyright 2020

Data supplier:
Balance of Payments Investment Income and Co-ordination
Government Buildings
Cardiff Road
Newport
Gwent
NP20 8XG

e-mail: bop@ons.gov.uk
telephone: +44 (0)1633 456106
Summary of statistics for Quarter 1 (Jan to Mar) 2020

Latest Record since Record

quarter highest

Current account (net)

Trade in goods -£29.3 Largest deficit since 2019 Q3 £1.6
(1981 Q1)

Trade in services £28.1 Largest surplus since 2018 Q3 £28.8

(2017 Q3)

Primary income -£13.6 Largest deficit since 2016 Q2 £7.7

(2005 Q2)

Secondary income -£6.3 Largest deficit since 2019 Q4 £0.3

(1982 Q1)

Current balance -£21.1 Largest deficit since 2019 Q3 £2.7

(1981 Q1)

Capital account (net)

Capital balance -£0.1 Largest deficit since 2019 Q4 £0.5
(2007 Q4)

Financial account (net)

Direct Investment -£2.0 Largest net inflow since 2019 Q4 £98.5
(2000 Q1)

Portfolio investment -£50.4 Largest net inflow since 2019 Q3 £121.0

(2012 Q3)

Financial derivatives £18.7 Largest net settlement receipts since 2019 Q3 £63.3
(2008 Q1)

Other investment £42.1 Largest net investment since 2018 Q4 £133.4

(2015 Q1)

Reserve assets -£3.3 Largest net disinvestment since 2019 Q2 £13.1

(2018 Q4)

International investment position (net)

Direct investment -£53.8 Largest net liability position since 2019 Q4 £494.2
(2008 Q4)
Portfolio investment -£821.8 Largest net liability position since 2019 Q4 £143.1
(1993 Q4)

Financial derivatives £70.7 Largest net asset position since 2014 Q4 £163.3
(2013 Q2)

Other investment £280.7 Largest net asset position since 2019 Q2 £525.0
(2018 Q4)

Reserve assets £137.2 Largest net asset position recorded £137.2

(2020 Q1)

Note:
1. Q1 refers to Quarter 1 (Jan to Mar), Q2 refers to Quarter 2 (Apr to June), Q3 refers to Quarter 3 (July to Sept)
and Q4 refers to Quarter 4 (Oct to Dec).
billion

Record
lowest

-£49.4
(2019 Q1)

£0.0
(1965 Q3)

-£18.4
(2015 Q4)

-£7.4
(2015 Q4)

-£35.8
(2019 Q1)

-£1.6
(2006 Q2)

-£139.7
(2014 Q1)

-£191.4
(2008 Q4)

-£96.8
(2015 Q1)

-£141.9
(2012 Q3)

-£6.3
(2019 Q1)

-£112.1
(2018 Q4)
 -£891.8
(2019 Q4)

-£37.6
(2007 Q1)

-£387.5
(2007 Q4)

£1.1
(1970 Q3)

r 3 (July to Sept)
A Summary of balance of payments
Balances (net transactions)
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Seasonally adjusted

Current account
Trade in goods and services
Trade in goods BOKI -139365 -129457 -33887 -34474 -38237 -49401 -35028 -29597 -15431 -29315
Trade in services IKBD 109578 105470 26972 28223 27476 27467 27067 27154 23782 28114

Total trade IKBJ -29787 -23987 -6915 -6251 -10761 -21934 -7961 -2443 8351 -1201
Primary income
Compensation of employees IJAJ -386 -749 -83 -105 -101 -138 -222 -173 -216 -42
Investment income HBOM -26011 -35465 -5322 -5794 -9143 -6218 -6088 -12405 -10754 -13370
Other primary income MT5X -1133 -1135 -236 -271 -299 -302 -304 -290 -239 -201

Total primary income HBOJ -27530 -37349 -5641 -6170 -9543 -6658 -6614 -12868 -11209 -13613
Secondary income
General government FNSV -21835 -23426 -5096 -6240 -5338 -6091 -5803 -6028 -5504 -5286
Other sectors FNTC -3716 -4069 -994 -950 -948 -1104 -1121 -986 -858 -1046

Total secondary income IKBP -25551 -27495 -6090 -7190 -6286 -7195 -6924 -7014 -6362 -6332

Current balance HBOP -82868 -88831 -18646 -19611 -26590 -35787 -21499 -22325 -9220 -21146

Capital balance FNVQ -2518 -862 -808 -236 -1306 -53 -49 -301 -459 -117

Not seasonally adjusted

Current account
Trade in goods and services
Trade in goods LQCT -139365 -129457 -31478 -35343 -38630 -50031 -32793 -31445 -15188 -30036
Trade in services KTMS 109578 105470 28193 23328 31730 26531 28049 21862 29028 27286

Total trade KTMY -29787 -23987 -3285 -12015 -6900 -23500 -4744 -9583 13840 -2750
Primary income
Compensation of employees KTMP -386 -749 -71 -114 -81 -159 -213 -189 -188 -66
Investment income HMBM -26011 -35465 -6416 -5652 -9176 -2848 -8261 -11609 -12747 -10017
Other primary income MT5W -1133 -1135 -180 -329 -323 -267 -246 -360 -262 -170

Total primary income HMBP -27530 -37349 -6667 -6095 -9580 -3274 -8720 -12158 -13197 -10253
Secondary income
General government FJUQ -21835 -23426 -4330 -5878 -5524 -7165 -4946 -5503 -5812 -6075
Other sectors FJUR -3716 -4069 -998 -947 -954 -1096 -1123 -982 -868 -1036

Total secondary income KTNF -25551 -27495 -5328 -6825 -6478 -8261 -6069 -6485 -6680 -7111

Current balance HBOG -82868 -88831 -15280 -24935 -22958 -35035 -19533 -28226 -6037 -20114

Capital balance FKMJ -2518 -862 -808 -236 -1306 -53 -49 -301 -459 -117

Financial account1
Direct investment -MU7M -17895 -69144 -194 24393 -21639 11289 -23063 -17750 -39620 -2009
Portfolio investment -HHZD -269534 44939 -107757 -47096 -65274 113965 21177 -73566 -16637 -50352
Financial derivatives (net) -ZPNN 8353 8877 -10466 13433 -15159 -3263 -1925 26182 -12117 18748
Other investment -HHYR 177349 -95235 97705 -9904 63335 -140908 -11715 22105 35283 42143
Reserve assets -LTCV 18566 -872 2017 -28 13089 -6270 -4616 -247 10261 -3259

Net financial transactions -HBNT -83161 -111435 -18695 -19202 -25648 -25187 -20142 -43276 -22830 5271

Net errors and omissions2 HHDH 2225 -21742 -2607 5969 -1384 9901 -560 -14749 -16334 25502

1 When downloading data from the Pink Book dataset users should
reverse the sign of series that have an identifier that is prefixed with
a minus sign.
2 This series represents net errors and omissions in the balance of payments
accounts. It is the converse of the current and capital balances (HBOG and
FKMJ) and net financial account transactions (HBNT) and is required to
balance these three accounts, not seasonally adjusted.
B Current account
Seasonally adjusted
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Credits
Exports of goods and services
Exports of goods BOKG 349608 372618 87338 89343 88057 89900 86678 94197 101843 82270
Exports of services IKBB 306870 327842 75079 77267 80101 79408 80657 83739 84038 77277

Total exports of goods and services IKBH 656478 700460 162417 166610 168158 169308 167335 177936 185881 159547
Primary income
Compensation of employees IJAH 1262 1225 306 314 321 275 290 327 333 310
Investment income HBOK 215039 204160 53324 57088 52901 53835 54228 50153 45944 39022
Other primary income MT5T 2202 2208 564 564 564 564 548 548 548 548

Total primary income HBOH 218503 207593 54194 57966 53786 54674 55066 51028 46825 39880
Secondary income
Central government FHDM 759 805 207 151 192 213 182 193 217 141
Other sectors FHIB 17912 17894 4451 4385 4592 4430 4440 4543 4481 4267

Total secondary income IKBN 18671 18699 4658 4536 4784 4643 4622 4736 4698 4408

Total HBON 893652 926752 221269 229112 226728 228625 227023 233700 237404 203835

Debits
Imports of goods and services
Imports of goods BOKH 488973 502075 121225 123817 126294 139301 121706 123794 117274 111585
Imports of services IKBC 197292 222372 48107 49044 52625 51941 53590 56585 60256 49163

Total imports of goods and services IKBI 686265 724447 169332 172861 178919 191242 175296 180379 177530 160748
Primary income
Compensation of employees IJAI 1648 1974 389 419 422 413 512 500 549 352
Investment income HBOL 241050 239625 58646 62882 62044 60053 60316 62558 56698 52392
Other primary income MT5V 3335 3343 800 835 863 866 852 838 787 749

Total primary income HBOI 246033 244942 59835 64136 63329 61332 61680 63896 58034 53493
Secondary income
Central government FLUD 22594 24231 5303 6391 5530 6304 5985 6221 5721 5427
Other sectors FLUZ 21628 21963 5445 5335 5540 5534 5561 5529 5339 5313

Total secondary income IKBO 44222 46194 10748 11726 11070 11838 11546 11750 11060 10740

Total HBOO 976520 1015583 239915 248723 253318 264412 248522 256025 246624 224981

Balances
Trade in goods and services
Trade in goods BOKI -139365 -129457 -33887 -34474 -38237 -49401 -35028 -29597 -15431 -29315
Trade in services IKBD 109578 105470 26972 28223 27476 27467 27067 27154 23782 28114

Total trade in goods and services IKBJ -29787 -23987 -6915 -6251 -10761 -21934 -7961 -2443 8351 -1201
Primary income
Compensation of employees IJAJ -386 -749 -83 -105 -101 -138 -222 -173 -216 -42
Investment income HBOM -26011 -35465 -5322 -5794 -9143 -6218 -6088 -12405 -10754 -13370
Other primary income MT5X -1133 -1135 -236 -271 -299 -302 -304 -290 -239 -201

Total primary income HBOJ -27530 -37349 -5641 -6170 -9543 -6658 -6614 -12868 -11209 -13613
Secondary income
Central government FNSV -21835 -23426 -5096 -6240 -5338 -6091 -5803 -6028 -5504 -5286
Other sectors FNTC -3716 -4069 -994 -950 -948 -1104 -1121 -986 -858 -1046

Total secondary income IKBP -25551 -27495 -6090 -7190 -6286 -7195 -6924 -7014 -6362 -6332

Current balance HBOP -82868 -88831 -18646 -19611 -26590 -35787 -21499 -22325 -9220 -21146

Balances as a percentage of GDP1

Trade in goods and services
Trade in goods D28J -6.5 -5.8 -6.3 -6.4 -7.1 -9 -6.3 -5.3 -2.8 -5.3
Trade in services D28K 5.1 4.8 5.1 5.2 5.1 5 4.9 4.9 4.3 5.1

Total trade in goods and services D28L -1.4 -1.1 -1.3 -1.2 -2 -4 -1.4 -0.4 1.5 -0.2
Total primary income D28M -1.3 -1.7 -1.1 -1.1 -1.8 -1.2 -1.2 -2.3 -2 -2.5
Total secondary income D28N -1.2 -1.2 -1.1 -1.3 -1.2 -1.3 -1.3 -1.3 -1.1 -1.1

Current balance as percentage of GDP AA6H -3.9 -4 -3.5 -3.6 -4.9 -6.5 -3.9 -4 -1.7 -3.8

1 Using series YBHA: GDP at current market prices

C Current account: Transactions with the European Union (EU) and with
Seasonally adjusted

2018 2019 2018

Q2

Transactions with the European Union 1,2,3

Credits
Exports of goods6 L87S 172202 170120 43206
Exports of services6 L854 124552 130681 31313

Total exports of goods and services6 L84Y 296754 300801 74519

Primary income L872 77874 74041 18701
Secondary income L84S 4719 4485 1212

Total L873 379347 379327 94432

Debits
Imports of goods6 L87U 265725 265408 67486
Imports of services6 L868 96976 106960 23974

Total imports of goods and services6 L864 362701 372368 91460

Primary income L874 109228 102643 26264
Secondary income L85W 17042 17568 3942

Total L875 488971 492579 121666

Balances
Trade in goods6 L87Q -93523 -95288 -24280
Trade in services6 L86M 27576 23721 7339

Total trade in goods and services6 L86I -65947 -71567 -16941

Primary income L876 -31354 -28602 -7563
Secondary income L86E -12323 -13083 -2730

Total L877 -109624 -113252 -27234

Transactions with non-EU countries 4,5

Credits
Exports of goods6 L87M 177406 202498 44132
Exports of services 6
L855 182318 197161 43766

Total exports of goods and services6 L84Z 359724 399659 87898

Primary income L87D 140629 133552 35493
 Secondary income L84T 13952 14214 3446

Total L87E 514305 547425 126837

Debits
Imports of goods6 L87O 223248 236667 53739
Imports of services6 L869 100316 115412 24133

Total imports of goods and services6 L865 323564 352079 77872

Primary income L87F 136805 142299 33571
Secondary income L85X 27180 28626 6806

Total L87G 487549 523004 118249

Balances
Trade in goods6 L87K -45842 -34169 -9607
Trade in services6 L86N 82002 81749 19633

Total trade in goods and services6 L86J 36160 47580 10026

Primary income L87H 3824 -8747 1922
Secondary income L86F -13228 -14412 -3360

Total L87I 26756 24421 8588

1 EU presented on an EU basis.
2 Includes transactions with European Union institutions.
3 A quarterly breakdown of the UK's current account with the Euro area (as a
whole) is published in table B6 of United Kingdom Economic Accounts
(UKEA) at http://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts
4 Includes transactions with international organisations other than
European Union institutions.

5 A quarterly geographic breakdown of the UK's current account with the USA,
Japan, Canada, Switzerland, Brazil, China, Hong Kong, India and Russia is
also available and is published in table B6B of UKEA (see note 3).
6 These data are our best estimate of these bilateral UK trade flows. Users
should note that alternative estimates are available, in some cases, via
the statistical agencies for bilateral countries or through central
databases such as UN Comtrade (www.comtrade.un.org).
ion (EU) and with non-EU countries

£ million
2018 2018 2019 2019 2019 2019 2020
Q3 Q4 Q1 Q2 Q3 Q4 Q1

43997 43033 45125 40961 42567 41467 37743

30644 32171 32001 31941 33675 33064 30445

74641 75204 77126 72902 76242 74531 68188

20717 19537 20716 20023 18211 15091 15452
1118 1155 1116 1132 1141 1096 1028

96476 95896 98958 94057 95594 90718 84668

66325 67383 71601 64552 65837 63418 57055

23700 26274 25224 25800 27063 28873 24171

90025 93657 96825 90352 92900 92291 81226

28672 27986 25936 26652 25362 24693 23507
4563 4471 4961 4046 4465 4096 3992

123260 126114 127722 121050 122727 121080 108725

-22328 -24350 -26476 -23591 -23270 -21951 -19312

6944 5897 6777 6141 6612 4191 6274

-15384 -18453 -19699 -17450 -16658 -17760 -13038

-7955 -8449 -5220 -6629 -7151 -9602 -8055
-3445 -3316 -3845 -2914 -3324 -3000 -2964

-26784 -30218 -28764 -26993 -27133 -30362 -24057

45346 45024 44775 45717 51630 60376 44527

46623 47930 47407 48716 50064 50974 46832

91969 92954 92182 94433 101694 111350 91359

37249 34249 33958 35043 32817 31734 24428
 3418 3629 3527 3490 3595 3602 3380

132636 130832 129667 132966 138106 146686 119167

57492 58911 67700 57154 57957 53856 54530

25344 26351 26717 27790 29522 31383 24992

82836 85262 94417 84944 87479 85239 79522

35464 35343 35396 35028 38534 33341 29986
7163 6599 6877 7500 7285 6964 6748

125463 127204 136690 127472 133298 125544 116256

-12146 -13887 -22925 -11437 -6327 6520 -10003

21279 21579 20690 20926 20542 19591 21840

9133 7692 -2235 9489 14215 26111 11837

1785 -1094 -1438 15 -5717 -1607 -5558
-3745 -2970 -3350 -4010 -3690 -3362 -3368

7173 3628 -7023 5494 4808 21142 2911

D Summary of international investment position, financial account and investment income
Not seasonally adjusted
£ billion
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Investment abroad

International Investment Position

Direct investment N2V3 1804.7 1727.6 1778.1 1780.5 1804.7 1750.6 1763.6 1786 1727.6 1702.5
Portfolio investment HHZZ 2437 2798.4 2572.1 2640.9 2437 2606.1 2740.6 2795.5 2798.4 2487.8
Financial derivatives JX96 2071.1 2197.7 2074.2 1982.5 2071.1 2045.8 2375.8 2728.6 2197.7 3667.4
Other investment HLXV 4622.8 4282.8 4480.4 4416.3 4622.8 4467 4515.5 4610.2 4282.8 4938.8
Reserve assets LTEB 135.3 131.6 117.7 118 135.3 125.3 126.4 129 131.6 137.2

Total HBQA 11070.9 11138 11022.6 10938.2 11070.9 10994.9 11521.8 12049.3 11138 12933.8

Financial Account transactions1

Direct investment -N2SV 43.1 -52.1 6.8 20.1 15.2 6 -7.9 2 -52.3 -19.9
Portfolio investment -HHZC -136.2 108.9 -57.2 -0.6 -48.3 67.7 37 -17.6 21.7 -56.5
Financial derivatives (net) -ZPNN 8.4 8.9 -10.5 13.4 -15.2 -3.3 -1.9 26.2 -12.1 18.7
Other investment -XBMM 176.6 -224.4 -14.3 -98.9 176.5 -47.4 -77.4 29.1 -128.8 500
Reserve assets -LTCV 18.6 -0.9 2 - 13.1 -6.3 -4.6 -0.2 10.3 -3.3

Total -HBNR 110.5 -159.7 -73.1 -65.9 141.3 16.8 -54.7 39.5 -161.2 439.1

Investment income earnings

Direct investment N2QP 102.7 88.8 26.9 29.1 21.2 24.2 24 23 17.6 13.9
Portfolio investment HLYX 62.8 57 16.4 15.4 16.1 14.8 15.2 13.9 13.1 14.4
Other investment AIOP 48.2 56.8 11.7 13 13.7 14 15.9 14.9 12 9.8
Reserve assets HHCB 1.3 1.5 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4

Total HMBN 215 204.2 55.4 57.8 51.4 53.3 55.5 52.2 43.1 38.4

Investment in the UK

International Investment Position

Direct investment N2UG 1916.8 1783.5 1852.8 1860.7 1916.8 1795.3 1813.5 1837.1 1783.5 1756.3
Portfolio investment HLXW 3310.7 3690.2 3437.3 3445.9 3310.7 3410.2 3525.5 3683.7 3690.2 3309.6
Financial derivatives JX97 2020.7 2154.7 2020.8 1916.9 2020.7 2000.5 2332.9 2663.5 2154.7 3596.7
Other investment HLYD 4097.8 4069.2 4007.1 3953.6 4097.8 4156 4203.5 4342.4 4069.2 4658.1

Total HBQB 11346.1 11697.6 11318 11177.1 11346.1 11361.9 11875.3 12526.8 11697.6 13320.7

Financial Account transactions

Direct investment N2SA 61 17 7 -4.3 36.9 -5.3 15.2 19.8 -12.6 -17.9
Portfolio investment HHZF 133.4 63.9 50.6 46.5 16.9 -46.2 15.9 56 38.3 -6.2
Other investment XBMN -0.7 -129.2 -112 -89 113.2 93.5 -65.6 7 -164.1 457.9

Total HBNS 193.6 -48.2 -54.4 -46.7 167 42 -34.6 82.8 -138.4 433.9

Investment income
Direct investment N2Q4 81.2 65.1 18.4 23.9 20.4 13.3 13.7 19.7 18.4 13.7
Portfolio investment HLZC 104.9 107.1 29.3 25.5 25.1 26.5 31.1 26.9 22.6 21.9
Other investment HLZN 55 67.5 14.1 14.1 15.1 16.3 19 17.3 14.9 12.8

Total HMBO 241.1 239.6 61.8 63.5 60.5 56.1 63.8 63.8 55.9 48.4

Net investment

International Investment Position

Direct investment MU7O -112.1 -55.9 -74.7 -80.2 -112.1 -44.6 -49.9 -51.2 -55.9 -53.8
Portfolio investment CGNH -873.7 -891.8 -865.1 -804.9 -873.7 -804.2 -784.9 -888.2 -891.8 -821.8
Financial derivatives JX98 50.4 43 53.4 65.5 50.4 45.4 42.9 65.1 43 70.7
Other investment CGNG 525 213.6 473.3 462.7 525 311 312 267.9 213.6 280.7
Reserve assets LTEB 135.3 131.6 117.7 118 135.3 125.3 126.4 129 131.6 137.2

Net investment HBQC -275.1 -559.6 -295.4 -238.9 -275.1 -367.1 -353.5 -477.5 -559.6 -386.9

Financial Accounts transactions 1

Direct investment -MU7M -17.9 -69.1 -0.2 24.4 -21.6 11.3 -23.1 -17.8 -39.6 -2
Portfolio investment -HHZD -269.5 44.9 -107.8 -47.1 -65.3 114 21.2 -73.6 -16.6 -50.4
Financial derivatives -ZPNN 8.4 8.9 -10.5 13.4 -15.2 -3.3 -1.9 26.2 -12.1 18.7
Other investment -HHYR 177.3 -95.2 97.7 -9.9 63.3 -140.9 -11.7 22.1 35.3 42.1
Reserve assets -LTCV 18.6 -0.9 2 - 13.1 -6.3 -4.6 -0.2 10.3 -3.3

Net transactions -HBNT -83.2 -111.4 -18.7 -19.2 -25.6 -25.2 -20.1 -43.3 -22.8 5.3

Investment income earnings

Direct investment MU7E 21.5 23.8 8.6 5.1 0.9 10.8 10.3 3.4 -0.8 0.2
Portfolio investment HLZX -42 -50.1 -12.9 -10.1 -9 -11.7 -15.9 -13 -9.4 -7.5
Other investment CGNA -6.8 -10.6 -2.4 -1 -1.4 -2.3 -3 -2.3 -2.9 -3
Reserve assets HHCB 1.3 1.5 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4

Net earnings HMBM -26 -35.5 -6.4 -5.7 -9.2 -2.8 -8.3 -11.6 -12.7 -10

1 When downloading data from the Pink Book dataset users should
reverse the sign of series that have an identifier that is prefixed with
a minus sign.
E Trade in goods
Seasonally adjusted
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Exports
Food, beverages and tobacco BOPL 22937 24220 5752 5756 5846 6377 5761 6227 5855 5544
Basic materials BOPM 7985 7669 2014 2049 2019 2042 1911 1886 1830 1873
Oil ELBL 37162 33478 9762 9868 10133 8482 8703 8589 7704 6652
Other fuels BOQI 3504 2817 823 1323 767 664 924 671 558 394
Semi-manufactured goods BOPO 89301 90587 22713 22300 21863 23131 20621 23561 23274 22078
Finished manufactured goods BOPP 185743 197926 45445 47326 46370 48937 47127 51654 50208 43427
Unspecified goods BOQL 2976 15921 829 721 1059 267 1631 1609 12414 2302

Total BOKG 349608 372618 87338 89343 88057 89900 86678 94197 101843 82270

Imports
Food, beverages and tobacco BQAR 47916 48840 11914 12244 12199 13092 11825 12015 11908 11875
Basic materials BQAS 11999 12152 2925 3140 3151 3091 2989 3045 3027 3082
Oil ENXO 42885 40973 10527 11937 11138 9645 10322 10432 10574 8900
Other fuels BPBI 13348 8569 2930 2588 3641 3435 2058 1182 1894 2033
Semi-manufactured goods BQAU 113870 113647 28094 28641 29659 31750 27115 27768 27014 25221
Finished manufactured goods BQAV 253166 260675 62783 63765 65334 67003 64515 66696 62461 56915
Unspecified goods BQAW 5789 17219 2052 1502 1172 11285 2882 2656 396 3559

Total BOKH 488973 502075 121225 123817 126294 139301 121706 123794 117274 111585

Balances
Food, beverages and tobacco ELBE -24979 -24620 -6162 -6488 -6353 -6715 -6064 -5788 -6053 -6331
Basic materials ELBF -4014 -4483 -911 -1091 -1132 -1049 -1078 -1159 -1197 -1209
Oil ENXQ -5723 -7495 -765 -2069 -1005 -1163 -1619 -1843 -2870 -2248
Other fuels ENIW -9844 -5752 -2107 -1265 -2874 -2771 -1134 -511 -1336 -1639
Semi-manufactured goods ELBH -24569 -23060 -5381 -6341 -7796 -8619 -6494 -4207 -3740 -3143
Finished manufactured goods ELBI -67423 -62749 -17338 -16439 -18964 -18066 -17388 -15042 -12253 -13488
Unspecified goods BQKX -2813 -1298 -1223 -781 -113 -11018 -1251 -1047 12018 -1257

Total BOKI -139365 -129457 -33887 -34474 -38237 -49401 -35028 -29597 -15431 -29315
F Trade in services
Seasonally adjusted
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Exports
Manufacturing and maintenance services MTN7 5691 6434 1372 1467 1483 1602 1616 1622 1594 1478
Transport FKOA 29469 31249 7161 7366 7505 7868 7801 7545 8035 7133
Travel FAPO 36431 39515 8795 8677 9010 9002 9418 10335 10760 6377
Construction FDSG 2671 2920 592 659 727 681 766 729 744 699
Insurance and pension services FDTF 19425 20153 4731 5073 4885 4957 5016 5043 5137 5108
Financial FDYI 63222 63297 16241 15672 15854 15818 14949 16506 16024 16589
Intellectual property FEBA 19721 19776 4616 4565 6131 4608 5042 4787 5339 4147
Telecommunication, computer and information services FDYQ 23960 23400 5784 6016 6249 5663 5757 6004 5976 5326
Other business FEHH 98796 113049 23893 25842 26374 27223 28462 29135 28229 28246
Personal, cultural and recreational services FGXJ 4584 4812 1161 1175 1197 1186 1046 1223 1357 1365
Government FGZA 2900 3237 733 755 686 800 784 810 843 809

Total IKBB 306870 327842 75079 77267 80101 79408 80657 83739 84038 77277

Imports
Manufacturing and maintenance services MTN6 2151 2819 442 448 725 689 692 719 719 550
Transport FHME 25524 25639 6291 6471 6276 6389 6426 6469 6355 6075
Travel APQL 51742 55619 12671 13063 13112 13103 13567 14314 14635 10872
Construction FIOU 2090 2832 465 536 590 604 593 666 969 828
Insurance and pension services FIPT 3095 3115 734 771 857 797 739 773 806 694
Financial FITY 17017 19673 4057 4274 4805 4825 5022 5083 4743 4710
Intellectual property FIVX 10860 13269 2630 2708 2928 3132 3343 3427 3367 2644
Telecommunication, computer and information services FIUG 10751 10498 2633 2586 2767 2568 2733 2718 2479 2389
Other business FIWF 66285 80831 16259 16232 18567 17872 18560 20283 24116 18338
Personal, cultural and recreational services FLQJ 4095 4436 988 1098 1036 1041 1076 1175 1144 1169
Government FLSA 3682 3641 937 857 962 921 839 958 923 894

Total IKBC 197292 222372 48107 49044 52625 51941 53590 56585 60256 49163

Balances
Manufacturing and maintenance services MTN8 3540 3615 930 1019 758 913 924 903 875 928
Transport FLYS 3945 5610 870 895 1229 1479 1375 1076 1680 1058
Travel FNGY -15311 -16104 -3876 -4386 -4102 -4101 -4149 -3979 -3875 -4495
Construction FNJM 581 88 127 123 137 77 173 63 -225 -129
Insurance and pension services FNKF 16330 17038 3997 4302 4028 4160 4277 4270 4331 4414
Financial FNLQ 46205 43624 12184 11398 11049 10993 9927 11423 11281 11879
Intellectual property FNMR 8861 6507 1986 1857 3203 1476 1699 1360 1972 1503
Telecommunication, computer and information services FNLY 13209 12902 3151 3430 3482 3095 3024 3286 3497 2937
Other business FNMZ 32511 32218 7634 9610 7807 9351 9902 8852 4113 9908
Personal, cultural and recreational services FNRB 489 376 173 77 161 145 -30 48 213 196
Government FNRU -782 -404 -204 -102 -276 -121 -55 -148 -80 -85

Total IKBD 109578 105470 26972 28223 27476 27467 27067 27154 23782 28114
G Primary income
Seasonally adjusted
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Credits

Compensation of employees IJAH 1262 1225 306 314 321 275 290 327 333 310

Investment income
Earnings on direct investment abroad MTX2 102689 88804 25787 28191 22237 24615 23394 20846 19949 14382
Earnings on portfolio investment abroad
Earnings on equity securities CGDT 35444 33529 8646 8843 9238 8532 8207 8341 8449 8533
Earnings on debt securities CGDU 27402 23487 6830 6696 7387 6349 6315 5667 5156 5965

Total portfolio investment CGDV 62846 57016 15476 15539 16625 14881 14522 14008 13605 14498
Earnings on other investment abroad CGDW 48201 56837 11741 13018 13681 13985 15928 14904 12020 9773
Earnings on reserve assets HHCC 1303 1503 320 340 358 354 384 395 370 369

Total investment income HBOK 215039 204160 53324 57088 52901 53835 54228 50153 45944 39022

Other primary income MT5T 2202 2208 564 564 564 564 548 548 548 548

Total HBOH 218503 207593 54194 57966 53786 54674 55066 51028 46825 39880

Debits

Compensation of employees IJAI 1648 1974 389 419 422 413 512 500 549 352

Investment income
Foreign earnings on direct investment in the UK MTU7 81154 65053 19251 23015 18906 16417 14467 18407 15762 16617
Foreign earnings on portfolio investment in the UK
Earnings on equity securities HGOT 49697 54092 12435 11928 13289 14180 12751 13536 13625 10250
Earnings on debt securities CGDX 55194 53020 13246 13739 14610 13026 14506 13262 12226 12608

Total portfolio investment CGDZ 104891 107112 25681 25667 27899 27206 27257 26798 25851 22858
Earnings on other investment in the UK CGEB 55005 67460 13714 14200 15239 16430 18592 17353 15085 12917

Total investment income HBOL 241050 239625 58646 62882 62044 60053 60316 62558 56698 52392

Other primary income MT5V 3335 3343 800 835 863 866 852 838 787 749

Total HBOI 246033 244942 59835 64136 63329 61332 61680 63896 58034 53493

Balances

Compensation of employees IJAJ -386 -749 -83 -105 -101 -138 -222 -173 -216 -42

Investment income
Direct investment MU7F 21535 23751 6536 5176 3331 8198 8927 2439 4187 -2235
Portfolio investment
Earnings on equity securities CGEC -14253 -20563 -3789 -3085 -4051 -5648 -4544 -5195 -5176 -1717
Earnings on debt securities CGED -27792 -29533 -6416 -7043 -7223 -6677 -8191 -7595 -7070 -6643

Total portfolio investment CGEE -42045 -50096 -10205 -10128 -11274 -12325 -12735 -12790 -12246 -8360
Other investment CGFF -6804 -10623 -1973 -1182 -1558 -2445 -2664 -2449 -3065 -3144
Reserve assets HHCC 1303 1503 320 340 358 354 384 395 370 369

Total investment income HBOM -26011 -35465 -5322 -5794 -9143 -6218 -6088 -12405 -10754 -13370

Other primary income MT5X -1133 -1135 -236 -271 -299 -302 -304 -290 -239 -201

Total HBOJ -27530 -37349 -5641 -6170 -9543 -6658 -6614 -12868 -11209 -13613
H Secondary income
Seasonally adjusted
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Credits
General government
Receipts from EU Institutions:
Other EU receipts GTTA 147 70 55 3 44 41 - - 29 -
Other receipts CGDN 612 735 152 148 148 172 182 193 188 141

Total general government FHDM 759 805 207 151 192 213 182 193 217 141
Other sectors
Receipts from EU Institutions:
Social fund H5U3 295 174 11 46 109 2 11 52 109 2
Other receipts CGDO 17617 17720 4440 4339 4483 4428 4429 4491 4372 4265

Total other sectors FHIB 17912 17894 4451 4385 4592 4430 4440 4543 4481 4267

Total IKBN 18671 18699 4658 4536 4784 4643 4622 4736 4698 4408

Debits
General government
Payments to EU institutions
GNI: own resource MUV7 17340 17011 4271 4844 4545 4850 4204 4878 3079 4059
GNI adjustments MUV8 -971 -126 -237 - -734 - -27 - -99 -
less Abatement -FKKM -4451 -4492 -1158 -1222 -1181 -1227 -1161 -1222 -882 -1011
Other FLMT -7 -5 - - -7 - 2 - -7 -
Other payments CGDP 10683 11843 2427 2769 2907 2681 2967 2565 3630 2379

Total general government FLUD 22594 24231 5303 6391 5530 6304 5985 6221 5721 5427
Other sectors
Payments to EU institutions CGDR - - - - - - - - - -
Other payments CGDS 21628 21963 5445 5335 5540 5534 5561 5529 5339 5313

Total other sectors FLUZ 21628 21963 5445 5335 5540 5534 5561 5529 5339 5313

Total IKBO 44222 46194 10748 11726 11070 11838 11546 11750 11060 10740

Balances
General government FNSV -21835 -23426 -5096 -6240 -5338 -6091 -5803 -6028 -5504 -5286
Other sectors FNTC -3716 -4069 -994 -950 -948 -1104 -1121 -986 -858 -1046

Total IKBP -25551 -27495 -6090 -7190 -6286 -7195 -6924 -7014 -6362 -6332
Of which: EU institutions1 GTTB -11734 -12269 -2904 -3673 -2506 -3576 -3088 -3600 -2005 -3042

1 For a complete picture of UK official transactions with institutions of the

EU, the balance of other primary income -£1,135 million, a credit of
£669 million for export of services (UK charges for collection of duties)
and a capital account credit of approximately £1,322 million should
be included giving a 2019 balance of approximately -£11,413 million.
I Capital account
Seasonally adjusted
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Credits
Capital transfers
Central government
Debt forgiveness FHIV - - - - - - - - - -
Other capital transfers FHJA - - - - - - - - - -

Total central government FHIU - - - - - - - - - -

Other sectors
Debt forgiveness FHJD - - - - - - - - - -
EU Institutions:
Regional development fund GTTX 676 771 28 129 469 121 123 58 469 121
Agricultural fund for regional development FHJF 503 551 122 113 181 135 122 113 181 135
Other capital transfers EBGO - - - - - - - - - -

Total EU institutions GTTY 1179 1322 150 242 650 256 245 171 650 256

Total other sectors FHJB 1179 1322 150 242 650 256 245 171 650 256

Total capital transfers FHIT 1179 1322 150 242 650 256 245 171 650 256
Disposal of non-produced, non-financial assets FHJL 1161 1034 216 426 238 193 185 460 196 214

Total FHLD 2340 2356 366 668 888 449 430 631 846 470

Debits
Capital transfers
Central government
Debt forgiveness FLWD 107 212 - - - 97 - - 115 -
Other capital transfers (project grants) FLWH 3444 1869 1014 204 1884 251 358 271 989 397

Total central government FLWB 3551 2081 1014 204 1884 348 358 271 1104 397
Other sectors
Debt forgiveness
Monetary financial institutions FLWL - - - - - - - - - -
Public corporations HMLY - - - - - - - - - -

Total debt forgiveness JCWM - - - - - - - - - -

Other capital transfers FLWQ - - - - - - - - - -

Total other sectors FLWI - - - - - - - - - -

Total capital transfers FLWA 3551 2081 1014 204 1884 348 358 271 1104 397
Acquisitions of non-produced, non-financial assets FLWT 1307 1137 160 700 310 154 121 661 201 190

Total FLYL 4858 3218 1174 904 2194 502 479 932 1305 587

Balances
Capital transfers
Central government
Debt forgiveness FNTM -107 -212 - - - -97 - - -115 -
Other capital transfers FNTN -3444 -1869 -1014 -204 -1884 -251 -358 -271 -989 -397

Total central government FNTL -3551 -2081 -1014 -204 -1884 -348 -358 -271 -1104 -397
Other sectors
Debt forgiveness FNTQ - - - - - - - - - -
Other capital transfers FNTR 1179 1322 150 242 650 256 245 171 650 256

Total other sectors FNTO 1179 1322 150 242 650 256 245 171 650 256

Total capital transfers FNTK -2372 -759 -864 38 -1234 -92 -113 -100 -454 -141
Non-produced, non-financial assets FNTS -146 -103 56 -274 -72 39 64 -201 -5 24

Total FNVQ -2518 -862 -808 -236 -1306 -53 -49 -301 -459 -117
J Financial account 1,2

Not seasonally adjusted

£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

UK investment abroad

(Net acquisition of financial assets)

Direct investment abroad
Equity capital other than reinvestment of earnings -HJYM 8870 8028 85 3961 1225 3948 3029 379 672 927
Reinvestment of earnings -HDNY 27381 -40315 8737 12718 -894 -1481 -4695 -4650 -29489 -1704
Debt instruments -N2RN 6852 -19843 -1980 3431 14889 3496 -6195 6291 -23435 -19102

Total direct investment abroad -N2SV 43103 -52130 6842 20110 15220 5963 -7861 2020 -52252 -19879
Portfolio investment abroad
Equity and investment fund shares -HBVI -171287 2518 -36001 -24374 -41436 20016 -14862 -40595 37959 -87603
Debt securities -XBMW 35134 106349 -21187 23795 -6909 47725 51891 22999 -16266 31075

Total portfolio investment abroad -HHZC -136153 108867 -57188 -579 -48345 67741 37029 -17596 21693 -56528
Financial derivatives & employee stock options -ZPNN 8353 8877 -10466 13433 -15159 -3263 -1925 26182 -12117 18748
Other investment abroad -XBMM 176600 -224409 -14291 -98882 176520 -47386 -77356 29137 -128804 500047
Reserve assets -LTCV 18566 -872 2017 -28 13089 -6270 -4616 -247 10261 -3259

Total -HBNR 110469 -159667 -73086 -65946 141325 16785 -54729 39496 -161219 439129

Investment in the UK

(Net incurrance of liabilities)

Direct investment in the UK
Equity capital other than reinvestment of earnings HJYR 51548 29855 2591 -337 29340 3009 12264 6151 8431 698
Reinvestment of earnings CYFV 11385 13797 4245 8284 -6384 111 435 10267 2984 5707
Debt instruments N2R7 -1935 -26638 200 -12230 13903 -8446 2503 3352 -24047 -24275

Total direct investment in the UK N2SA 60998 17014 7036 -4283 36859 -5326 15202 19770 -12632 -17870
Portfolio investment in the UK
Equity and investment fund shares XBLW 3874 -10170 12058 12187 -15538 -5678 -6629 6369 -4232 5064
Debt securities XBLX 129507 74098 38511 34330 32467 -40546 22481 49601 42562 -11240

Total portfolio investment in the UK HHZF 133381 63928 50569 46517 16929 -46224 15852 55970 38330 -6176

Other investment in the UK XBMN -749 -129174 -111996 -88978 113185 93522 -65641 7032 -164087 457904

Total HBNS 193630 -48232 -54391 -46744 166973 41972 -34587 82772 -138389 433858

Net transactions

(net assets less net liabilities)

Direct investment
Equity capital other than reinvestment of earnings -HBWN -42678 -21827 -2506 4298 -28115 939 -9235 -5772 -7759 229
Reinvestment of earnings -HBWT 15996 -54112 4492 4434 5490 -1592 -5130 -14917 -32473 -7411
Debt instruments -MU7L 8787 6795 -2180 15661 986 11942 -8698 2939 612 5173

Total net direct investment -MU7M -17895 -69144 -194 24393 -21639 11289 -23063 -17750 -39620 -2009
Portfolio investment
Equity and investment fund shares -HBWV -175161 12688 -48059 -36561 -25898 25694 -8233 -46964 42191 -92667
Debt securities -HBWX -94373 32251 -59698 -10535 -39376 88271 29410 -26602 -58828 42315

Total net portfolio investment -HHZD -269534 44939 -107757 -47096 -65274 113965 21177 -73566 -16637 -50352
Financial derivatives & employee stock options -ZPNN 8353 8877 -10466 13433 -15159 -3263 -1925 26182 -12117 18748
Other investment -HHYR 177349 -95235 97705 -9904 63335 -140908 -11715 22105 35283 42143
Reserve assets -LTCV 18566 -872 2017 -28 13089 -6270 -4616 -247 10261 -3259

Total -HBNT -83161 -111435 -18695 -19202 -25648 -25187 -20142 -43276 -22830 5271

1 When downloading data from the Pink Book dataset users should
reverse the sign of series that have an identifier that is prefixed with
a minus sign.
2 Further detail of the quarterly financial account is published
in tables B8 to B13 of United Kingdom Economic Accounts at
http://www.ons.gov.uk/ons/search/index.html?newquery=ukea
K International investment position 1

Balance sheets valued at end of period: Not seasonally adjusted

£ billion
2018 2019 2018 2018 2018 2019 2019 2019 2019 2020
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

UK Assets
Direct investment abroad
Equity and investment fund shares CGMO 1441.9 1389.4 1428.9 1426 1441.9 1404.5 1416.7 1442.9 1389.4 1380.9
Debt instruments N2TT 362.8 338.1 349.2 354.5 362.8 346.2 346.9 343.1 338.1 321.6

Total direct investment abroad N2V3 1804.7 1727.6 1778.1 1780.5 1804.7 1750.6 1763.6 1786 1727.6 1702.5
Portfolio investment abroad
Equity and investment fund shares HEPX 1412.8 1695.7 1567.5 1615.4 1412.8 1551.3 1611.6 1622.8 1695.7 1306.2
Debt securities HHZX 1024.2 1102.7 1004.6 1025.5 1024.2 1054.8 1129 1172.8 1102.7 1181.6

Total portfolio investment abroad HHZZ 2437 2798.4 2572.1 2640.9 2437 2606.1 2740.6 2795.5 2798.4 2487.8
Financial derivatives & employee stock options JX96 2071.1 2197.7 2074.2 1982.5 2071.1 2045.8 2375.8 2728.6 2197.7 3667.4
Other investment abroad HLXV 4622.8 4282.8 4480.4 4416.3 4622.8 4467 4515.5 4610.2 4282.8 4938.8
Reserve assets LTEB 135.3 131.6 117.7 118 135.3 125.3 126.4 129 131.6 137.2

Total HBQA 11070.9 11138 11022.6 10938.2 11070.9 10994.9 11521.8 12049.3 11138 12933.8

UK Liabilities
Direct investment in the UK
Equity and investment fund shares HBUY 1356.4 1359.3 1301.4 1324.9 1356.4 1359.6 1367.2 1379.4 1359.3 1348.5
Debt instruments N2TD 560.4 424.2 551.4 535.7 560.4 435.6 446.3 457.8 424.2 407.8

Total direct investment in the UK N2UG 1916.8 1783.5 1852.8 1860.7 1916.8 1795.3 1813.5 1837.1 1783.5 1756.3
Portfolio investment in the UK
Equity and investment fund shares HLXX 1330.9 1533.9 1501.1 1498.3 1330.9 1451.5 1476.2 1480.7 1533.9 1167.2
Debt securities HLXY 1979.8 2156.3 1936.2 1947.5 1979.8 1958.8 2049.2 2203 2156.3 2142.4

Total portfolio investment in the UK HLXW 3310.7 3690.2 3437.3 3445.9 3310.7 3410.2 3525.5 3683.7 3690.2 3309.6
Financial derivatives & employee stock options JX97 2020.7 2154.7 2020.8 1916.9 2020.7 2000.5 2332.9 2663.5 2154.7 3596.7
Other investment in the UK HLYD 4097.8 4069.2 4007.1 3953.6 4097.8 4156 4203.5 4342.4 4069.2 4658.1

Total HBQB 11346.1 11697.6 11318 11177.1 11346.1 11361.9 11875.3 12526.8 11697.6 13320.7

Net International Investment Position

Direct investment
Equity and investment fund shares HBSH 85.5 30.1 127.5 101 85.5 44.8 49.5 63.5 30.1 32.5
Debt instruments MU7N -197.6 -86 -202.2 -181.2 -197.6 -89.5 -99.5 -114.7 -86 -86.2

Total net direct investment MU7O -112.1 -55.9 -74.7 -80.2 -112.1 -44.6 -49.9 -51.2 -55.9 -53.8
Portfolio investment
Equity and investment fund shares CGNE 81.9 161.8 66.4 117.1 81.9 99.8 135.4 142 161.8 139
Debt securities CGNF -955.6 -1053.6 -931.6 -922 -955.6 -904 -920.3 -1030.3 -1053.6 -960.8

Total net portfolio investment CGNH -873.7 -891.8 -865.1 -804.9 -873.7 -804.2 -784.9 -888.2 -891.8 -821.8
Financial derivatives & employee stock options JX98 50.4 43 53.4 65.5 50.4 45.4 42.9 65.1 43 70.7
Other investment CGNG 525 213.6 473.3 462.7 525 311 312 267.9 213.6 280.7
Reserve assets LTEB 135.3 131.6 117.7 118 135.3 125.3 126.4 129 131.6 137.2

Total HBQC -275.1 -559.6 -295.4 -238.9 -275.1 -367.1 -353.5 -477.5 -559.6 -386.9

1 Further detail of the quarterly international investment position

is published in tables B14 to B19 of
United Kingdom Economic Accounts at
http://www.ons.gov.uk/ons/search/index.html?newquery=ukea
R1 Summary of revisions since last Balance of Payments Statistical Bulletin
Balances (net transactions)
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019
Q2 Q3 Q4 Q1 Q2 Q3 Q4

Seasonally adjusted

Current account
Trade in goods and services
Trade in goods BOKI - 262 - - - -33 -120 293 122
Trade in services IKBD - 1646 - - - 165 747 474 260

Total trade IKBJ - 1908 - - - 132 627 767 382

Primary income
Compensation of employees IJAJ - -142 - - - -1 -68 -10 -63
Investment income HBOM - -6895 - - - -650 893 -3122 -4016
Other primary income MT5X - 30 - - - -10 11 11 18

Total primary income HBOJ - -7007 - - - -661 836 -3121 -4061

Secondary income
General government FNSV - 36 - - - 56 17 -50 13
Other sectors FNTC - -5 - - - -2 -3 3 -3

Total secondary income IKBP - 31 - - - 54 14 -47 10

Current balance HBOP - -5068 - - - -475 1477 -2401 -3669

Capital balance FNVQ - -61 - - - - 102 - -163

Not seasonally adjusted

Current account
Trade in goods and services
Trade in goods LQCT - 262 - - - 23 -42 -38 319
Trade in services KTMS - 1646 - - - -150 679 372 745

Total trade KTMY - 1908 - - - -127 637 334 1064

Primary income
Compensation of employees KTMP - -142 - - - 1 -62 -8 -73
Investment income HMBM - -6895 - - - 788 905 -2457 -6131
Other primary income MT5W - 30 - - - - 10 10 10

Total primary income HMBP - -7007 - - - 789 853 -2455 -6194

Secondary income
General government FJUQ - 36 - - - -1 20 3 14
Other sectors FJUR - -5 - - - -3 -5 1 2

Total secondary income KTNF - 31 - - - -4 15 4 16

Current balance HBOG - -5068 - - - 658 1505 -2117 -5114

Capital balance FKMJ - -61 - - - - 102 - -163

Financial account1
Direct investment -MU7M - -47476 - - - -5312 6784 -4812 -44136
Portfolio investment -HHZD - -1774 - - - 1200 -1201 -850 -923
Financial derivatives (net) -ZPNN - 8841 - - - -1 -1785 1156 9471
Other investment -HHYR - 31657 - - - -57 530 3475 27709
Reserve assets -LTCV - - - - - - - - -

Net financial transactions -HBNT - -8752 - - - -4170 4328 -1031 -7879

Net errors and omissions2 HHDH - -3623 - - - -4828 2721 1086 -2602

1 When downloading data from the Pink Book dataset users should
reverse the sign of series that have an identifier that is prefixed with
a minus sign.
2 This series represents net errors and omissions in the balance of payments
accounts. It is the converse of the current and capital balances (HBOG and
FKMJ) and net financial account transactions (HBNT) and is required to
balance these three accounts, not seasonally adjusted.
R2 Current account revisions since last Balance of Payments Statistical Bulletin
Seasonally adjusted
£ million
2018 2019 2018 2018 2018 2019 2019 2019 2019
Q2 Q3 Q4 Q1 Q2 Q3 Q4

Credits
Exports of goods and services
Exports of goods BOKG - 146 - - - -346 1323 114 -945
Exports of services IKBB - 1688 - - - 249 729 475 235

Total exports of goods and services IKBH - 1834 - - - -97 2052 589 -710
Primary income
Compensation of employees IJAH - -44 - - - -2 -6 -2 -34
Investment income HBOK - -7820 - - - 85 845 -2329 -6421
Other primary income MT5T - 30 - - - - 10 10 10

Total primary income HBOH - -7834 - - - 83 849 -2321 -6445

Secondary income
Central government FHDM - 39 - - - 6 15 9 9
Other sectors FHIB - -29 - - - 4 -18 -12 -3

Total secondary income IKBN - 10 - - - 10 -3 -3 6

Total HBON - -5990 - - - -4 2898 -1735 -7149

Debits
Imports of goods and services
Imports of goods BOKH - -116 - - - -313 1443 -179 -1067
Imports of services IKBC - 42 - - - 84 -18 1 -25

Total imports of goods and services IKBI - -74 - - - -229 1425 -178 -1092
Primary income
Compensation of employees IJAI - 98 - - - -1 62 8 29
Investment income HBOL - -925 - - - 735 -48 793 -2405
Other primary income MT5V - - - - - 10 -1 -1 -8

Total primary income HBOI - -827 - - - 744 13 800 -2384

Secondary income
Central government FLUD - 3 - - - -50 -2 59 -4
Other sectors FLUZ - -24 - - - 6 -15 -15 -

Total secondary income IKBO - -21 - - - -44 -17 44 -4

Total HBOO - -922 - - - 471 1421 666 -3480

Balances
Trade in goods and services
Trade in goods BOKI - 262 - - - -33 -120 293 122
Trade in services IKBD - 1646 - - - 165 747 474 260

Total trade in goods and services IKBJ - 1908 - - - 132 627 767 382
Primary income
Compensation of employees IJAJ - -142 - - - -1 -68 -10 -63
Investment income HBOM - -6895 - - - -650 893 -3122 -4016
Other primary income MT5X - 30 - - - -10 11 11 18

Total primary income HBOJ - -7007 - - - -661 836 -3121 -4061

Secondary income
Central government FNSV - 36 - - - 56 17 -50 13
Other sectors FNTC - -5 - - - -2 -3 3 -3

Total secondary income IKBP - 31 - - - 54 14 -47 10

Current balance HBOP - -5068 - - - -475 1477 -2401 -3669

Balances as a percentage of GDP1

Trade in goods and services
Trade in goods D28J - 0.1 - - - - - 0.1 -
Trade in services D28K - 0.1 - - - - 0.1 0.1 0.1

Total trade in goods and services D28L - 0.1 - - - - 0.2 0.2 0.1
Total primary income D28M - -0.3 - - - -0.1 0.2 -0.5 -0.7
Total secondary income D28N - - - - - - - - -

Current balance as percentage of GDP AA6H - -0.2 - - - -0.1 0.3 -0.4 -0.7

1 Using series YBHA: GDP at current market prices

R3 Revisions to international investment since last Balance of Payments
Statistical Bulletin
Not seasonally adjusted
£ billion
2018 2019 2018 2018 2018 2019 2019 2019 2019
Q2 Q3 Q4 Q1 Q2 Q3 Q4

Investment abroad

International Investment Position

Direct investment N2V3 - -80.3 - - - -38 -25.1 -31.1 -80.3
Portfolio investment HHZZ - 1.8 - - - 0.4 -0.2 -0.4 1.8
Financial derivatives JX96 - -27.9 - - - - -27.6 -30.2 -27.9
Other investment HLXV - -20.9 - - - - 0.1 0.8 -20.9
Reserve assets LTEB - - - - - - - - -

Total HBQA - -127.2 - - - -37.6 -52.7 -60.9 -127.2

Financial Account transactions1

Direct investment -N2SV - -52.3 - - - -7.7 7.2 -4.1 -47.7
Portfolio investment -HHZC - 0.1 - - - 0.6 -1.5 -0.6 1.6
Financial derivatives (net) -ZPNN - 8.8 - - - - -1.8 1.2 9.5
Other investment -XBMM - -21.1 - - - - 0.1 -1 -20.3
Reserve assets -LTCV - - - - - - - - -

Total -HBNR - -64.5 - - - -7.1 4 -4.5 -56.9

Investment income earnings

Direct investment N2QP - -6.1 - - - 0.3 1.1 -0.6 -6.8
Portfolio investment HLYX - -0.6 - - - - - -0.1 -0.5
Other investment AIOP - -1.2 - - - - - -0.3 -0.8
Reserve assets HHCB - - - - - - - - -

Total HMBN - -7.8 - - - 0.3 1 -1 -8.2

Investment in the UK

International Investment Position

Direct investment N2UG - -120.3 - - - -57.3 -69.2 -101.9 -120.3
Portfolio investment HLXW - 1.7 - - - 15.6 4.3 -6.1 1.7
Financial derivatives JX97 - -24.1 - - - - -25.8 -28.8 -24.1
Other investment HLYD - 16.8 - - - 2 5.5 9 16.8

Total HBQB - -125.8 - - - -39.7 -85.3 -127.7 -125.8

Financial Account transactions

Direct investment N2SA - -4.9 - - - -2.4 0.4 0.7 -3.6
Portfolio investment HHZF - 1.9 - - - -0.6 -0.3 0.2 2.6
Other investment XBMN - -52.8 - - - - -0.4 -4.4 -48

Total HBNS - -55.8 - - - -2.9 -0.3 -3.5 -49

Investment income
Direct investment N2Q4 - -0.4 - - - -0.5 0.1 1.7 -1.7
Portfolio investment HLZC - 0.2 - - - 0.1 - - 0.1
Other investment HLZN - -0.7 - - - - - -0.2 -0.4

Total HMBO - -0.9 - - - -0.5 0.1 1.4 -2

Net investment

International Investment Position

Direct investment MU7O - 40 - - - 19.3 44.2 70.8 40
Portfolio investment CGNH - 0.1 - - - -15.2 -4.5 5.7 0.1
Financial derivatives JX98 - -3.9 - - - - -1.8 -1.4 -3.9
Other investment CGNG - -37.7 - - - -2 -5.3 -8.2 -37.7
Reserve assets LTEB - - - - - - - - -

Net investment HBQC - -1.5 - - - 2.1 32.5 66.8 -1.5

Financial Accounts transactions1

Direct investment -MU7M - -47.5 - - - -5.3 6.8 -4.8 -44.1
Portfolio investment -HHZD - -1.8 - - - 1.2 -1.2 -0.9 -0.9
Financial derivatives -ZPNN - 8.8 - - - - -1.8 1.2 9.5
Other investment -HHYR - 31.7 - - - -0.1 0.5 3.5 27.7
Reserve assets -LTCV - - - - - - - - -

Net transactions -HBNT - -8.8 - - - -4.2 4.3 -1 -7.9

Investment income earnings

Direct investment MU7E - -5.7 - - - 0.8 0.9 -2.3 -5.2
Portfolio investment HLZX - -0.7 - - - -0.1 - - -0.6
Other investment CGNA - -0.5 - - - - - -0.1 -0.4
Reserve assets HHCB - - - - - - - - -

Net earnings HMBM - -6.9 - - - 0.8 0.9 -2.5 -6.1

1 When downloading data from the Pink Book dataset users should
reverse the sign of series that have an identifier that is prefixed with
a minus sign.