## Balance Of Payments St Quarter 2010 1

Date:  12 July 2010    
Coverage:  United Kingdom    **Theme:**  The Economy The current account recorded a deficit of £9.6 billion in the first quarter of 2010, equating to -2.7 per cent of GDP. This compares with a revised surplus of £0.5 billion in the fourth quarter of 2009 (0.1 per cent of GDP). This was the first current account surplus since the third quarter of 1998. A deficit of £8.8 billion was recorded with the EU compared with a deficit of £3.9 billion in the previous quarter. 

                                                                                                                                                              £ billion 
                                                                                                                        Current balance 
Compared with the fourth quarter of 2009, the switch back to a deficit 
was mainly due to a lower surplus on income. This was compounded 
by a higher deficit on current transfers and trade in goods together 
with a lower surplus on trade in services. The surplus on income 
decreased by £8.1 billion to £3.8 billion. The deficit on current 
transfers increased by £1.0 billion to £4.3 billion, while the deficit on 
trade in goods increased by £0.5 billion to £21.7 billion. The surplus 
on trade in services fell by £0.6 billion to £12.5 billion. 

 
Data in this release have been revised from the first quarter of 2006. 
 

## Current Account (Balances)

|                                |     |
|--------------------------------|-----|
| Trade in                       |     |
| goods                          |     |
|                                |     |
| Trade in                       |     |
| services                       |     |
|                                |     |
| Income                         |     |
|                                |     |
| Transfers                      |     |
|                                |     |
| Current                        |     |
| Balance                        |     |
|                                |     |
| Current  balance               |     |
| as per cent of                 |     |
| GDP                            |     |
|                                |     |
| seasonally adjusted: £ billion |     |
|                                |     |
| %                              |     |
|                                |     |
| 2008                           | Q1  |
| -0.6                           |     |
|                                | Q2  |
| -1.8                           |     |
|                                | Q3  |
| -2.1                           |     |
|                                | Q4  |
| -2.2                           |     |
|                                |     |
|                                |     |
| 2009                           | Q1  |
| -1.0                           |     |
|                                | Q2  |
| -2.8                           |     |
|                                | Q3  |
| -0.8                           |     |
|                                | Q4  |
| 0.1                            |     |
|                                |     |
|                                |     |
| 2010                           | Q1  |
| -2.7                           |     |

## Current Account Balance As Percentage Of Gdp

                                                                                                                                               Current account
                                                                                                                                               Trade in goods & services
                                                                                                                                               Income
The current account balance equates to -2.7 per cent of GDP at 
current market prices in the first quarter of 2010, compared with 
0.1 per cent in the previous quarter. The deficit on trade in 
goods and services is equivalent to -2.5 per cent of GDP in the 
latest quarter, compared with -2.3 per cent in the fourth quarter 
of 2009, while the surplus on income is 1.1 per cent of GDP in 
the latest quarter, compared with 3.4 per cent in the previous 
quarter. 
 
Current account with EU and non-EU countries (Table C) 
                                                                                                                               EU/non EU current account 

## 

                                                                                                                                                  EU countries
A deficit of £8.8 billion was recorded with the EU in the first 
quarter of 2010, compared with a deficit of £3.9 billion in the 
previous quarter. This increase was due to a fall in the surplus 
on income and a rise in the deficit on current transfers, partly 
offset by a fall in the deficit on trade in goods and an increase in 
the surplus on trade in services. The current account with non-
EU countries showed a deficit of £0.9 billion in the latest 
quarter, compared to a surplus in the fourth quarter of 2009 of 
£4.4 billion. This switch was due to a reduction in the surplus of 
income and trade in services and an increase in the deficit on 
trade in goods, partly offset by a decrease in the deficit on 
current transfers. 

## Trade In Goods (Table E)

 
The deficit on trade in goods in the first quarter of 2010 was 
£21.7 billion, compared with £21.1 billion in the previous 
quarter. Exports rose by £1.6 billion, and imports rose by £2.2 
billion. The deficit for trade in semi-manufactured goods 
widened by £0.8 billion to £1.6 billion, and the deficit for finished 
manufactured goods widened by £0.2 billion to £13.5 billion.  
The deficit for trade in oil narrowed by £0.4 billion to £0.3 billion, 
while the deficit for food, beverages and tobacco narrowed by 
£0.3 billion to £4.2 billion. 
 

## Trade In Services (Table F) Trade In Services Balance

0 2 4 6 8 10 12 14 16 18
2008 Q3
2008 Q4
2009 Q1
2009 Q2
2009 Q3
2009 Q4
2010 Q1

                                                                                                                                                                 £ billion 
 
The trade in services surplus was £12.5 billion in the first 
quarter of 2010, £0.6 billion lower than in the previous quarter. 
Exports fell by £0.7 billion to £39.1 billion, mainly reflecting a 
decrease in financial services (£0.4 billion), royalties and 
license fees (£0.3 billion) and construction services (£0.2 
billion). Imports fell by £0.2 billion to £26.6 billion, reflecting 
decreases in government (£0.3 billion) and construction 
services (£0.2 billion), partially offset by an increase in financial 
services (£0.3 billion). 
 
Income (Table G) 


 Income balance 
£ billion 
14 12 10 8 6 4 2 0
2007 Q4
2008 Q1
2008 Q2
2008 Q3
2008 Q4
2009 Q1
2009 Q2
2009 Q3
2009 Q4
2010 Q1

The surplus on **income** in the first quarter of 2010 fell to £3.8 
billion, from £11.9 billion in the previous quarter. Income credits were £41.5 billion in the first quarter of 2010, £0.1 billion higher than in the previous quarter. The rise was due to an increase of earnings from the previous quarter of £1.1 billion on direct investment abroad partially offset by a £0.9 billion reduction in earnings on other investment abroad. Income debits increased by £8.2 billion in the latest quarter to £37.6 billion. The rise was mainly driven by an increase in earnings from the previous quarter of £7.7 billion on direct investment in the UK. Earnings on portfolio investment in the UK increased by £1.0 billion in the latest quarter. These gains were slightly offset by a decrease in earnings on other investment in the UK of £0.5 billion. 

 
The deficit on compensation of employees was £0.2 billion in 
the first quarter of 2010, little changed from the previous 
quarter. 
 

The surplus on direct investment income was £10.0 billion in 
the first quarter of 2010, down £6.6 billion on the previous 
quarter. Earnings on direct investment abroad were £22.0 billion 
in the latest period, up from £20.9 billion in the fourth quarter of 
2009. The increase was mainly driven by a switch to profits 
from losses in the previous quarter by monetary financial 
institutions and an increase in earnings by other financial 
intermediaries, partially offset by a decrease in earnings by 
private non-financial corporations and insurance companies. 
Foreign earnings on direct investment in the UK rose by £7.7  

## 

billion in the latest quarter to £11.9 billion.  The rise was mainly due to a switch from losses to profits by monetary financial institutions in the UK. 

Portfolio investment income recorded a deficit of £3.4 billion in 
the first quarter of 2010, following a deficit of £2.4 billion in the 
previous quarter.  UK earnings on portfolio investment abroad 
fell by £0.1 billion in the first quarter of 2010 to £11.6 billion. 
This was due to a reduction in dividend receipts on equity 
securities. Foreign earnings on portfolio investment in the UK 
rose by £1.0 billion in the latest quarter to £15.1 billion.  The rise 
was due to higher earnings on UK equity securities and long- 
term debt. 

## 

The deficit on earnings from **other investment** increased by 
£0.4 billion to £2.8 billion in the latest period. Earnings on other investment abroad were £7.5 billion, a decrease of £0.9 billion on the previous quarter. Earnings on other investment in the UK were £10.2 billion, a fall of £0.5 billion from the previous quarter. 

 
Income on reserve assets was £0.2 billion in the first quarter of 
2010, little changed from the income earned in the previous 
quarter. 
 
Current Transfers (Table H) 
                                                                                                                

                                                                                                                                                                 £ billion 
 
The deficit on current transfers increased by £1.0 billion in the 
first quarter of 2010 to £4.3 billion. This was mainly as a result 
of an increase in the UK's payments to EU institutions. It should 
be noted that the quarterly path of net contributions to EU 
institutions can be erratic. 
 
Capital Account (Table I) 
 
The capital account recorded a surplus of £1.2 billion in the 
first quarter of 2010, a rise of £0.3 billion from the fourth quarter 
of 2009.  
 

## Financial Account (Table J) Financial Account

                                                                                                                                             UK investment abroad
                                                                                                                                             Investment in the UK
The financial account showed a net inflow (i.e. inward 
investment) of £1.0 billion in the first quarter of 2010, compared 
with a net inflow of £6.1 billion in the previous quarter. There 
was net investment abroad of £101.2 billion in the latest quarter, 
following net disinvestment of £29.8 billion in the fourth quarter 
of 2009. There was net investment in the UK of £102.2 billion in 
the first quarter of 2010, following net disinvestment of £23.7 
billion in the previous quarter.  
 
Direct investment recorded net inward investment of £14.8 
billion in the latest quarter compared with net outward 
investment of £3.8 billion in the previous quarter. 
 
Direct Investment abroad showed net investment of £11.0 
billion in the first quarter of 2010, compared to net investment of 
£17.2 billion in the previous quarter. The reduction in the net 
investment is due to a switch to net disinvestment in other 
capital transactions outweighing the increased investment in 
reinvested earnings and the switch to net investment in equity 
capital. Transactions in equity capital switched from 
disinvestment of £0.7 billion in the fourth quarter of 2009 to 
investment of £1.5 billion in the latest period, reinvested 
earnings increased by £6.4 billion to £11.7 billion, while other 
capital transactions switched from net investment of £12.7 
billion in the previous quarter to net disinvestment of £2.2 billion 
in the first quarter of 2010. Other financial intermediaries' 
investment switched from an outflow of £0.5 billion in the fourth 
quarter of 2009 to a net inflow of £4.3 billion in the latest 
quarter, while net investment by monetary financial institutions 
fell from £6.0 billion in the previous quarter to £2.7 billion in the 
first quarter of 2010. Net investment by private non-financial 
corporations fell from £10.8 billion in the fourth quarter of 2009 
to £9.9 billion in the latest quarter. These falls in investment 
were partially offset by a switch by insurance companies from 
net disinvestment in the fourth quarter of 2009 to net investment 
in the latest quarter.  

 
Direct investment into the UK showed net investment of £25.9 
billion in the first quarter of 2010, £12.4 billion higher than in the 
fourth quarter of 2009, mainly due to a switch to investment in 
other capital transactions. Net investment in other capital 
increased to £8.5 billion in the latest quarter, switching from 

                                          Statistical Bulletin: Balance of Payments, 1st quarter 2010 |   Page 6 
 
disinvestment of £3.1 billion in the fourth quarter of 2009, 
reinvested earnings increased by £0.9 billion to £3.6 billion, 
while investment in equity securities fell to £13.8 billion in the 
first quarter of 2010, from £13.9 billion in the previous quarter. 
Investment in private non-financial corporations switched from 
net disinvestment of £4.4 billion in the fourth quarter of 2009 to 
net investment of £18.7 billion in the latest quarter, while 
investment in other financial intermediaries (excluding securities 
dealers) increased by £4.0 billion in the latest quarter to £6.2 
billion. These gains were partially offset by a reduction in 
investment in securities dealers and monetary financial 
institutions, and a switch from net investment to net 
disinvestment in insurance companies. 
 
Portfolio investment in the first quarter of 2010 switched to a 
net inflow of £18.0 billion compared with a net outflow of £5.3 
billion in the previous quarter. 

Portfolio investment 
£ billion 
200
UK investment abroad Investment in the UK
150 100 50 0 -50 -100 -150
2009 Q3
2009 Q4
2010 Q1

Portfolio investment abroad showed net investment of £12.7 
billion in the first quarter of 2010, following net investment of £20.1 billion in the fourth quarter of 2009. Net investment in debt securities increased from £12.4 billion in the fourth quarter of 2009, to £25.9 billion in the latest quarter. Net investment in equity securities switched from a net outflow of £7.7 billion in the previous quarter, to a net inflow of £13.2 billion in the latest quarter. In the latest quarter, investment by other financial intermediaries decreased by £8.4 billion to £17.4 billion, mainly driven by a switch to net disinvestment in equity securities. Insurance companies and pension funds switched from net investment of £6.5 billion to net disinvestment of £1.2 billion, driven mainly by an increase in disinvestment in equity securities.  These falls were partially offset as both monetary financial institutions and private non-financial corporations reduced their level of net disinvestment.  
 
Portfolio investment in the UK showed net investment of 
£30.7 billion in the first quarter of 2010, compared with net investment of £14.8 billion in the fourth quarter of 2009. There was net investment in debt securities of £37.9 billion in the latest quarter, an increase of £32.7 billion on the previous quarter. Net investment in equity securities switched to net disinvestment of £7.2 billion in the first quarter of 2010, following net investment of £9.6 billion in the fourth quarter of 2009. Investment in central government securities increased by £16.9 billion to £30.1 billion, mainly driven by a switch to net  

                                          Statistical Bulletin: Balance of Payments, 1st quarter 2010 |   Page 7 
 
investment in treasury bills. Disinvestment in securities issued 
by monetary financial institutions fell to £1.7 billion in the first 
quarter of 2010 from disinvestment of £6.6 billion in the 
previous quarter. Investment in other sectors fell in the first 
quarter of 2010 driven by a switch from net investment to net 
disinvestment in equity securities.  There was net investment in 
long-term debt of £35.2 billion in the latest quarter, while there 
was a switch from net disinvestment in short-term debt of £12.9 
billion in the previous quarter to net investment of £2.7 billion in 
the latest quarter.   
 
Financial derivatives showed net settlement payments of 
£21.1 billion in the first quarter of 2010, following net settlement 
payments of £23.5 billion in the previous quarter. 
 
Other investment in the latest quarter recorded net outward 
investment of £51.6 billion compared with net outward 
investment of £8.7 billion in the previous quarter. 

## Other Investment

Other investment abroad switched to net investment of £97.3 
billion in the first quarter of 2010, following net disinvestment of £43.3 billion in the fourth quarter of 2009. The investment in the latest quarter was mainly due to a switch to net deposits abroad by UK residents of £75.6 billion. 

 
Other investment in the UK switched to net investment of 
£45.7 billion in the first quarter of 2010, compared with net 
disinvestment of £52.0 billion in the fourth quarter of 2009. 
There was a switch with UK monetary financial institutions from 
net withdrawals of £23.8 billion in the previous quarter to net 
deposits of £46.0 billion in the latest quarter, while UK securities 
dealers made reduced net short-term loan repayments of £8.2 
billion, down from £52.7 billion in the previous quarter. 
  
Reserve assets showed net investment of £1.3 billion in the 
first quarter of 2010, compared with net disinvestment of £0.5 
billion in the previous quarter. 
 

## International Investment Position (Net) International Investment Position (Table K)

                                                                                                                                                                 £ billion 
 
The international investment position showed net external 
liabilities (i.e. liabilities exceed assets) of £218.2 billion at the 
end of the first quarter of 2010 compared with net external 
liabilities of £275.0 billion at the end of the previous quarter. UK 
assets abroad increased by £587.7 billion from the end of the 
fourth quarter of 2009 to a level of £9287.7 billion at the end of 
the first quarter of 2010. UK liabilities increased by £530.8 
billion over the same period to a level of £9505.8 billion. The 
increase in the level of both UK assets and UK liabilities in the 
first quarter of 2010 mainly reflects a combination of the 
increase in investment flows and revaluation effects due to 
exchange rate movements and price changes.

 
Revisions since last Balance of Payments Statistical Bulletin  
(Table R) Data in this release have been revised from the first quarter of 2006. Overall changes to the current account in the latest periods, by current 
balance component, are as follows: 


£ billion 
 
08q1 
08q2 
08q3 
08q4 
09q1 
09q2 
09q3 
09q4 
 
Trade in goods 
- 
- 
- 
0.2 
0.1 
-0.1 
- 
-0.1 
Trade in services 
- 
-0.1 
0.1 
0.2 
- 
   -0.1 
-0.1 
0.7 
Income 
-0.8 
-0.4 
0.4 
-1.4 
0.6 
-2.8 
3.2 
1.6 
Current transfers 
- 
-0.1 
-0.1 
0.2 
 - 
- 
-0.1 
- 
Current balance 
-0.8 
-0.5 
0.4 
-0.9 
0.6 
-2.9 
3.0 
2.2 

 
Notes: 
 columns may not sum due to rounding; 

 
 -  means nil or less than £50 million. 
 
Trade in goods - The revisions to trade in goods from the first quarter of 
2008 onwards reflect revised data from Her Majesty's Revenue and 
Customs and other data suppliers, revised estimates of trading associated 
with VAT MTIC fraud, later survey data on trade prices, and a re-
assessment of seasonal factors. The revisions are consistent with the UK 
Trade data released on 9th June 2010. Trade data released on 9th July 
2010 were subject to additional small revisions and are therefore not fully 
consistent with the trade in goods data in this statistical bulletin.    
 
Trade in Services - Revisions in 2009 are due to the inclusion of 
provisional annual data from the International Trade in Services survey, 
Bank of England, Chamber of Shipping, Insurance inquiry and other survey 
sources. Revisions for 2006 to 2008 are due to supply use balancing and 
small revisions reflect a reassessment of data following the receipt of the 
provisional annual 2009 ITIS data. 
 
Current Transfers - Revisions to current transfers in 2009 are attributable 
to revised source data for transfers involving the UK government and the 
use of the latest data for various ONS surveys. 
 
Capital Account - Revisions to 2009 reflect annual data from the 
International Trade in Services survey for purchases of non-produced non-
financial assets. 
 

                                         Statistical Bulletin: Balance of Payments, 1st quarter 2010 |   Page 10 
 
Investment income, financial account and international investment 
position - Revisions from the first quarter 2006 are mainly due to: new 
methodology for estimating UK banks net transactions in financial 
derivatives with non-residents, together with the introduction into the 
accounts of the associated asset and liability levels; the take on of annual 
benchmark data for foreign direct investment by, and in, UK banks; 
revisions to coverage adjustments in the estimates for UK non-banks 
deposits with, and loans from, non-residents; and improved information for 
UK monetary financial institutions' receipts and payments of interest on 
loans and deposits. Revisions from the first quarter of 2007 reflect the 
incorporation of revised annual data for foreign direct investment by, and 
in, UK non-banks. Revisions to recent periods reflect the receipt of new or 
revised survey data and a reassessment of seasonal factors. Revisions in 
the latest period also reflect amended data from quarterly inquiries and 
new estimates from the Bank for International Settlements. 
 

 BACKGROUND NOTES 
 
This quarter 1. This release includes data available up to 14 June 2010 and is consistent with the dataset to 
be published in this year's *UK Balance of Payments Pink Book* and UK National Accounts Blue 
Book. The 2010 *Blue Book* and *Pink Book* dataset will be published electronically on the Office for National Statistics website on 30 July 2010 and the paper versions will be published on 27 August 2010.    

## Basic Quality Information For Bop Statistical Bulletin Summary Quality Report 2. A Summary Quality Report For This Statistical Bulletin Is Available On The National Statistics Website At:

 
 
http://www.statistics.gov.uk/cci/article.asp?ID=1453

## Key Quality Issues

 
3.   *Common pitfalls in interpreting series:* Expectations of accuracy and reliability in early 
estimates are often too high.  Revisions are an inevitable consequence of the trade off between timeliness and accuracy.  Early estimates are based on incomplete data. 
Very few statistical revisions arise as a result of 'errors' in the popular sense of the word.  All 
estimates, by definition, are subject to statistical 'error'; but in this context the word refers to the uncertainty inherent in any process or calculation that uses sampling, estimation or modelling. Most revisions reflect either the adoption of new statistical techniques, or the incorporation of 
new information which allows the statistical error of previous estimates to be reduced.  Only rarely are there avoidable 'errors' such as human or system failures, and such mistakes are 
made quite clear when they do occur.  

## Reliability 4. The Data In This Statistical Bulletin Are Subject To Revisions Following The Ons National Accounts Revision Policy.  The Policy Can Be Found At:



http://www.statistics.gov.uk/cci/article.asp?ID=1187&Pos=1&ColRank=2&Rank=224 
Estimates for the most recent quarters are provisional and, as usual, are subject to revision in 
light of updated source information. ONS has recently started to provide an analysis of past revisions in the BoP and other Statistical Bulletins which present time series. Details can be found at: 
 
 
http://www.statistics.gov.uk/cci/article.asp?ID=793


Spreadsheets giving revisions triangles (real time databases) of estimates from 1996 to date 
and the calculations behind the averages in the table are available on the National Statistics website at: 
 
 
http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=1118 5. Revisions to data provide one indication of the reliability of key indicators. The table below 
shows summary information on the size and direction of the revisions which have been made to the data covering a five year period. A statistical test has been applied to the average revision to find out if it is statistically significantly different from zero. An asterisk (*) shows that the test is significant. The table covers estimates from the balance of payments first published from June 2002 (2002q1) to March 2007 (2006q4). 

| Current account (seasonally adjusted)        | £million                                |
|----------------------------------------------|-----------------------------------------|
|                                              | Revisions between first publication and |
| estimates three years later                  |                                         |
| Average over the                             |                                         |
| last five years                              |                                         |
| without regard to                            |                                         |
| sign (average                                |                                         |
| absolute revision)                           |                                         |
| Value in latest                              |                                         |
| period                                       |                                         |
| Average over the                             |                                         |
| last five years                              |                                         |
| Credits (HBON)                               | 146388                                  |
| Debits (HBOO)                                | 156016                                  |
| Net (HBOP)                                   | -9628                                   |

 
An article analysing balance of payments current account revisions was published in the May 
2007 edition of *Economic & Labour Market Review*. It is available on the National Statistics 
website at: 
 
 
http://www.statistics.gov.uk/elmr/05_07/downloads/ELMR_May07.pdf 
Status of figures and planned future revisions 6. In this issue of the Balance of Payments Statistical Bulletin (and in the forthcoming 2010 edition 
of the Balance of Payments Pink Book), ONS have for the first time introduced data on financial derivatives business of UK banks into the main aggregates of the international investment position.  Data for securities dealers and insurance and pension funds will continue to be excluded from the UK's international investment position whilst the data continues to be 
validated and estimates improved.  The financial derivatives balance sheet for all sectors will be published separately in table FD of the Pink Book. 
 

 7. ONS and the Bank of England intend to review the measurement of banks' earnings on Foreign 
Direct Investment (FDI). The current estimates of banks' earnings on FDI are shown on an all inclusive basis, including holding gains and losses but FDI earnings can also be presented on a current operating performance basis, which excludes holding gains and losses. International standards currently allow presentation on either basis but this is also under review by the international organisations as part of the regular update of international guidelines. 8. Import figures for Trade in Goods include adjustments to allow for the impact of trade 
associated with VAT Missing Trader Intra-Community (MTIC) fraud. The adjustments were introduced for the first time in the UK Trade May 2003 First Release published on 9 July 2003. The adjustments are added to the EU import estimates derived from Intrastat returns. 
An article explaining the fraud and the impact on the trade figures was published on 9 July 
2003. A follow-up report was published on 17 February 2005 which summarises the work carried out since July 2003 to review the estimates of the impact on the trade figures. The articles can be found at: 
  
 
http://www.statistics.gov.uk/cci/article.asp?ID=402
 
 
http://www.statistics.gov.uk/cci/article.asp?ID=1066 
Changes to the pattern of trading associated with MTIC fraud can make it difficult to analyse 
trade by commodity group and by country as changes in the impact of activity associated with 
this fraud affect both imports and exports. Originally, most carousel chains only involved EU member states. From 2004 in particular, some carousel chains included non-EU countries, e.g. Dubai and Switzerland. However, the MTIC trade adjustments are added to the EU import estimates derived from Intrastat returns as it is this part of the chain that is not generally recorded. In particular, adjustments affect trade in capital goods and intermediate goods - these categories include mobile phones and computer components, which are still the most widely affected goods. 9. Figures for total exports and imports less adjustments for trade associated with VAT MTIC 
fraud are given in the monthly UK Trade Statistical Bulletin, which can be found at: 
 
 
http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=1119 10. Figures for the most recent periods are provisional and subject to revision in light of: (a) late 
and corrected responses to surveys; (b) revisions to seasonal adjustment factors which are reestimated annually. 11. ONS delivered Q1 2010 current account estimates at the end of May to Eurostat solely for 
them to estimate aggregate euro-indicators. The same approach is followed for each quarterly delivery. 12. In order to comply with Regulation (EC) No 184/2005, ONS will supply Eurostat and the 
European Central Bank with current account data for trade in services and investment income unadjusted for FISIM e.g. FISIM will not be included in trade in services but will remain in investment income. Additionally, a detailed geographical and product breakdown of trade in services will be supplied to Eurostat to comply with the same regulation. Both deliveries are scheduled to take place on 12 July 2010. 
 
 
General notes 13. Table C provides an EU/non-EU breakdown of the current account.  Data in this release are 
presented on an EU27 basis, reflecting the expansion of EU membership on 1 January 2007. A quarterly geographic breakdown of the UK's current account with the Euro area, the USA, Japan, Canada, Switzerland, Brazil, China, Hong Kong, India and Russia is also available and is published in *United Kingdom Economic Accounts* (UKEA). 14. Current and capital accounts are seasonally adjusted.  Financial account and international 
investment position data are not seasonally adjusted. 15. When compiling the geographic breakdown of income, current transfers and trade in services, 
the EU countries are seasonally adjusted. The non-EU seasonally adjusted figure is calculated by subtracting the seasonally adjusted EU total from the seasonally adjusted world total. Both 
EU and non-EU data are seasonally adjusted for trade in goods; these are aggregated to form the world total. 
   
 
16. International investment position statistics are based on recording direct investments at book 
values and other assets and liabilities at estimated market values and are likely in some respects to be deficient in scope and coverage. Quarterly estimates tend to be less reliable because they are largely based on cumulated flows and not reported levels. 17. In theory, every credit entry should be matched by a corresponding debit so that total current, 
capital and financial account credits should be equal to, and therefore offset by, total debits. In practice there is a discrepancy termed net errors and omissions. The net errors and omissions are shown on Table A. 

## Further Information 18. The United Nations Statistics Commission And The Imf Board Of Directors Have Approved The Comprehensive And Parallel Updating Of The Following National Accounts Manuals, In Order To Ensure Their Consistency And Achieve Greater Harmonisation:

 
 
1993 System of National Accounts, 1993 (SNA93); 
 
 
Balance of Payments Manual, 5th edition (BPM5); 
 
 
Government Finance Statistics Manual, 2001 (GFSM2001). 
 
ONS has developed the following webpage to inform users of progress and to invite their input: 
 
 
http://www.statistics.gov.uk/about/Consultations/NA/default.asp 19. Further Balance of Payments data is available online in the quarterly ONS publication United 
Kingdom Economic Accounts at: 
http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=1904&Pos=&ColRank=1&Rank=256 20. Free access to National Statistics data is available online at: 
 
http://www.statistics.gov.uk 21. Details of the policy governing the release of new data are available from the Media Office. 
Also available is a list of the names of those given pre-publication access to the contents of this bulletin. Exceptional pre-publication access was granted for Friday 9 July due to the publication being released on a Monday. 
 
22. **National Statistics** are produced to high professional standards set out in the Code of Practice 
for Official Statistics. They undergo regular quality assurance reviews to ensure that they meet customer needs. They are produced free from any political interference. © Crown Copyright 
2010. 
 
 
................................................................................................................................................................ 

 
Next publication: 28 September 2010 Issued by: Office for National Statistics, Government Buildings, Cardiff Road, Newport NP10 8XG 
 

## Media Contact:

Tel 
        
               Media Relations Office 
                                               0845 6041858 Emergency on-call  
                                                                      07867 906553 

Email  
press.office@ons.gsi.gov.uk 
 

## Statistical Contact:

Tel 
        
               Damian Whittard 
                                       01633 455497 

Email  
bop@ons.gov.uk 

## Website:

www.statistics.gov.uk

## Index To Tables

A 
 
Summary of balance of payments 
B 
 
Current account 
C 
 
Current account transactions with the EU and with non-EU countries 
D 
 
Summary of International investment position, financial account and investment income 
E 
 
Trade in goods 
F 
 
Trade in services 
G  
Income 
H 
 
Current transfers 
I 
 
Capital transfers 
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 

## A Summar Y Of Balance Of Payments Balances (Net Transactions)

£ million
2008 
2009 
2008
2008 
2008
2008 
2009 
2009 
2009 
2009 
2010
Q1 
Q2
Q3 
Q4
Q1 
Q2 
Q3 
Q4 
Q1
Seasonally adjusted Current account
Tr 
ade in goods and services
Tr 
ade in goods
BOKI
−93 116
−81 875
−23 481
−23 655
−23 830
−22 150
−20 978
−19 968
−19 821
−21 108
−21 657
Tr 
ade in services
IKBD
55 356
49 852
12 169
13 513
13 022
16 652
13 134
11 606
12 031
13 081
12 524
Total trade
IKBJ
−37 760
−32 023
−11 312
−10 142
−10 808
−5 498
−7 844
−8 362
−7 790
−8 027
−9 133
Income
Compensation of employees
IJAJ
−715
−688
−135
−202
−158
−220
−134
−153
−184
−217
−163
Investment income
HBOM
28 750
31 970
13 446
7 506 
7 085 
713
8 186 
2 974 
8 691 
12 119 
4 005
Total income
HBOJ
28 035
31 282
13 311
7 304 
6 927 
493
8 052 
2 821 
8 507 
11 902 
3 842
Current transfers
Central government
FNSV
−9 074
−11 186
−2 723
−2 301
−2 319
−1 731
−2 295
−3 337
−2 552
−3 002
−3 316
Other sectors
FNTC
−4 977
−3 579
−1 380
−1 309
−1 262
−1 026
−1 486
−659
−1 082
−352
−1 021
Total current transfers
IKBP
−14 051
−14 765
−4 103
−3 610
−3 581
−2 757
−3 781
−3 996
−3 634
−3 354
−4 337
Current balance
HBOP
−23 776
−15 506
−2 104
−6 448
−7 462
−7 762
−3 573
−9 537
−2 917 
521
−9 628
Capital balance
FNVQ
3 241 
3 219 
980
943 
571
747 
760 
870 
746 
843
1 183
Not seasonally adjusted Current account
Tr 
ade in goods and services
Tr 
ade in goods
LQCT
−93 116
−81 875
−23 437
−24 260
−23 900
−21 519
−21 506
−20 031
−20 081
−20 257
−22 260
Tr 
ade in services
KTMS
55 356
49 852
12 874
13 692
11 141
17 649
13 512
11 730
10 687
13 923
12 692
Total trade
KTMY
−37 760
−32 023
−10 563
−10 568
−12 759
−3 870
−7 994
−8 301
−9 394
−6 334
−9 568
Income
Compensation of employees
KTMP
−715
−688
−140
−187
−181
−207
−133
−142
−204
−209
−159
Investment income
HMBM
28 750
31 970
14 224
6 569 
8 256
−299 
8 412 
2 874 
9 608 
11 076 
3 988
Total income
HMBP
28 035
31 282
14 084
6 382 
8 075
−506 
8 279 
2 732 
9 404 
10 867 
3 829
Current transfers
Central government
FJUQ
−9 074
−11 186
−3 424
−1 965
−2 018
−1 667
−2 976
−3 033
−2 378
−2 799
−4 560
Other sectors
FJUR
−4 977
−3 579
−1 700
−1 132
−1 251
−894
−1 781
−496
−1 006
−296
−1 250
Total current transfers
KTNF
−14 051
−14 765
−5 124
−3 097
−3 269
−2 561
−4 757
−3 529
−3 384
−3 095
−5 810
Current balance
HBOG
−23 776
−15 506
−1 603
−7 283
−7 953
−6 937
−4 472
−9 098
−3 374 
1 438
−11 549
Capital balance
FKMJ
3 241 
3 219 
927
981 
585
748 
704 
912 
765 
838
1 127
Financial account
Direct investment
HJYV
−37 841
−15 357
5 696
−13 954
−20 763
−8 820
−15 996
749 
3 680
−3 790 
14 827
Portfolio investment
HHZD
324 076
34 835
66 258
108 727
29 821
119 270
63 400
3 084
−26 334
−5 315 
17 970
Financial derivatives (net)
ZPNN
−121 684
29 104
−63 328
−18 293
14 144
−54 207
−9 688 
5 648 
9 666 
23 478 
21 135
Other investment
HHYR
−140 078
−37 222
−14 308
−71 443
−14 427
−39 900
−45 377
−4 396 
21 262
−8 711
−51 604
Reser 
ve assets
LTCV
1 338
−5 763 
931
−108 
2 132
−1 617 
1 877
−1 304
−6 787 
451
−1 323
Net financial transactions
HBNT
25 811
5 597
−4 751 
4 929 
10 907 
14 726
−5 784 
3 781 
1 487 
6 113 
1 005
Net errors and omissions1
HHDH
−5 276 
6 690 
5 427 
1 373
−3 539
−8 537 
9 552 
4 405 
1 122
−8 389 
9 417

1 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 and FKMJ) and net financial account transactions (HBNT) and is required to balance these three accounts, not seasonally adjusted.

£ million
2008 
2009 
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009 
2010
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4 
Q1
Credits
Expor 
ts of goods and services
Expor 
ts of goods
BOKG
252 086
227 537
60 769
65 037
66 015
60 265
55 795
54 632
56 436
60 674
62 287
Expor 
ts of services
IKBB
170 819
159 111
40 831
42 209
41 963
45 816
41 463
39 120
38 701
39 827
39 106
Total expor 
ts of goods and services
IKBH
422 905
386 648
101 600
107 246
107 978
106 081
97 258
93 752
95 137
100 501
101 393
Income
Compensation of employees
IJAH
1 046 
916 
266 
264 
262 
254 
253 
233 
217 
213 
228
Investment income
HBOK
260 967
173 128
74 126
70 541
65 079
51 221
48 702
39 411
43 881
41 134
41 247
Total income
HBOH
262 013
174 044
74 392
70 805
65 341
51 475
48 955
39 644
44 098
41 347
41 475
Current transfers
Central government
FHDM
5 652 
6 158 
1 262 
1 188 
884
2 318 
1 752 
1 996 
1 393 
1 017 
1 042
Other sectors
FHIB
10 669
10 465
2 766 
2 624 
2 475 
2 804 
2 504 
2 458 
2 869 
2 634 
2 478
Total current transfers
IKBN
16 321
16 623
4 028 
3 812 
3 359 
5 122 
4 256 
4 454 
4 262 
3 651 
3 520
Total
HBON
701 239
577 315
180 020
181 863
176 678
162 678
150 469
137 850
143 497
145 499
146 388
Debits
Impor 
ts of goods and services
Impor 
ts of goods
BOKH
345 202
309 412
84 250
88 692
89 845
82 415
76 773
74 600
76 257
81 782
83 944
Impor 
ts of services
IKBC
115 463
109 259
28 662
28 696
28 941
29 164
28 329
27 514
26 670
26 746
26 582
Total imports of goods and services
IKBI
460 665
418 671
112 912
117 388
118 786
111 579
105 102
102 114
102 927
108 528
110 526
Income
Compensation of employees
IJAI
1 761 
1 604 
401 
466 
420 
474 
387 
386 
401 
430 
391
Investment income
HBOL
232 217
141 158
60 680
63 035
57 994
50 508
40 516
36 437
35 190
29 015
37 242
Total income
HBOI
233 978
142 762
61 081
63 501
58 414
50 982
40 903
36 823
35 591
29 445
37 633
Current transfers
Central government
FLUD
14 726
17 344
3 985 
3 489 
3 203 
4 049 
4 047 
5 333 
3 945 
4 019 
4 358
Other sectors
FLUZ
15 646
14 044
4 146 
3 933 
3 737 
3 830 
3 990 
3 117 
3 951 
2 986 
3 499
Total current transfers
IKBO
30 372
31 388
8 131 
7 422 
6 940 
7 879 
8 037 
8 450 
7 896 
7 005 
7 857
Total
HBOO
725 015
592 821
182 124
188 311
184 140
170 440
154 042
147 387
146 414
144 978
156 016
Balances
Tr 
ade in goods and services
Tr 
ade in goods
BOKI
−93 116
−81 875
−23 481
−23 655
−23 830
−22 150
−20 978
−19 968
−19 821
−21 108
−21 657
Tr 
ade in services
IKBD
55 356
49 852
12 169
13 513
13 022
16 652
13 134
11 606
12 031
13 081
12 524
Total trade in goods and services
IKBJ
−37 760
−32 023
−11 312
−10 142
−10 808
−5 498
−7 844
−8 362
−7 790
−8 027
−9 133
Income
Compensation of employees
IJAJ
−715
−688
−135
−202
−158
−220
−134
−153
−184
−217
−163
Investment income
HBOM
28 750
31 970
13 446
7 506 
7 085 
713
8 186 
2 974 
8 691 
12 119 
4 005
Total income
HBOJ
28 035
31 282
13 311
7 304 
6 927 
493
8 052 
2 821 
8 507 
11 902 
3 842
Current transfers
Central government
FNSV
−9 074
−11 186
−2 723
−2 301
−2 319
−1 731
−2 295
−3 337
−2 552
−3 002
−3 316
Other sectors
FNTC
−4 977
−3 579
−1 380
−1 309
−1 262
−1 026
−1 486
−659
−1 082
−352
−1 021
Total current transfers
IKBP
−14 051
−14 765
−4 103
−3 610
−3 581
−2 757
−3 781
−3 996
−3 634
−3 354
−4 337
Current balance
HBOP
−23 776
−15 506
−2 104
−6 448
−7 462
−7 762
−3 573
−9 537
−2 917 
521
−9 628
Balances as a percentage of GDP1
Tr 
ade in goods and services
Tr 
ade in goods
D28J
−6.4
−5.9
−6.5
−6.5
−6.6
−6.2
−6.0
−5.8
−5.7
−6.0
−6.0
Tr 
ade in services
D28K
3.8 
3.6 
3.4 
3.7 
3.6 
4.6 
3.8 
3.4 
3.5 
3.7 
3.5
Total trade in goods and services
D28L
−2.6
−2.3
−3.1
−2.8
−3.0
−1.5
−2.3
−2.4
−2.2
−2.3
−2.5
Total income
D28M
1.9 
2.2 
3.7 
2.0 
1.9 
0.1 
2.3 
0.8 
2.4 
3.4 
1.1
Total current transfers
D28N
−1.0
−1.1
−1.1
−1.0
−1.0
−0.8
−1.1
−1.2
−1.0
−1.0
−1.2
Current balance as percentage of GDP
AA6H
−1.6
−1.1
−0.6
−1.8
−2.1
−2.2
−1.0
−2.8
−0.8 
0.1
−2.7

1 Using series YBHA: GDP at current market prices

## C Current Account: Transactions With The European Union (Eu) And With Non-Eu Countries Seasonally Adjusted £ Million

2008 
2009
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009 
2010
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4 
Q1
Transactions with the European Union 1 2
Credits
Expor 
ts of goods
LGCK
141 831 124 334
34 732
36 928
37 084
33 087
30 845
29 411
31 002
33 076
33 890
Expor 
ts of services
GD7B
69 233
63 978
16 569
17 222
17 398
18 044
16 488
16 218
15 960
15 312
15 230
Total expor 
ts of goods and services
GD7A
211 064 188 312
51 301
54 150
54 482
51 131
47 333
45 629
46 962
48 388
49 120
Income
G97T
120 064
77 130
31 942
31 911
30 237
25 974
22 506
19 224
18 872
16 528
15 941
Current transfers
GD76
10 873
11 572
2 777 
2 348 
2 027 
3 721 
3 214 
3 199 
2 659 
2 500 
2 449
Total
G97N
342 001 277 014
86 020
88 409
86 746
80 826
73 053
68 052
68 493
67 416
67 510
Debits
Impor 
ts of goods
LGDC
181 070 161 496
46 120
47 339
46 109
41 502
39 281
38 492
39 919
43 804
43 352
Impor 
ts of services
GD7T
58 576
54 773
14 795
14 531
14 535
14 715
14 978
13 561
12 723
13 511
12 200
Total imports of goods and services
GD7S
239 646 216 269
60 915
61 870
60 644
56 217
54 259
52 053
52 642
57 315
55 552
Income
G97K
91 733
57 619
25 183
25 921
21 516
19 113
16 915
15 277
14 669
10 758
15 876
Current transfers
GD7O
16 152
17 498
4 946 
3 979 
3 360 
3 867 
5 138 
5 086 
4 051 
3 223 
4 833
Total
G97E
347 531 291 386
91 044
91 770
85 520
79 197
76 312
72 416
71 362
71 296
76 261
Balances
Tr 
ade in goods
LGCG
−39 239 −37 162 −11 388 −10 411
−9 025
−8 415
−8 436
−9 081
−8 917 −10 728
−9 462
Tr 
ade in services
GD7Y
10 657
9 205 
1 774 
2 691 
2 863 
3 329 
1 510 
2 657 
3 237 
1 801 
3 030
Total trade in goods and services
GD7X
−28 582 −27 957
−9 614
−7 720
−6 162
−5 086
−6 926
−6 424
−5 680
−8 927
−6 432
Income
G97C
28 331
19 511
6 759 
5 990 
8 721 
6 861 
5 591 
3 947 
4 203 
5 770 
65
Current transfers
GD7V
−5 279
−5 926
−2 169
−1 631
−1 333
−146
−1 924
−1 887
−1 392
−723
−2 384
Total
G976
−5 530 −14 372
−5 024
−3 361 
1 226 
1 629
−3 259
−4 364
−2 869
−3 880
−8 751

## Transactions With Non-Eu Countries 3

Credits
Expor 
ts of goods
LGDY
110 255 103 203
26 037
28 109
28 931
27 178
24 950
25 221
25 434
27 598
28 397
Expor 
ts of services
GEK9
101 586
95 133
24 262
24 987
24 565
27 772
24 975
22 902
22 741
24 515
23 876
Total expor 
ts of goods and services
GEK8
211 841 198 336
50 299
53 096
53 496
54 950
49 925
48 123
48 175
52 113
52 273
Income
G98L
141 949
96 914
42 450
38 894
35 104
25 501
26 449
20 420
25 226
24 819
25 534
Current transfers
GEK6
5 448 
5 051 
1 251 
1 464 
1 332 
1 401 
1 042 
1 255 
1 603 
1 151 
1 071
Total
G98E
359 238 300 301
94 000
93 454
89 932
81 852
77 416
69 798
75 004
78 083
78 878
Debits
Impor 
ts of goods
LGER
164 132 147 916
38 130
41 353
43 736
40 913
37 492
36 108
36 338
37 978
40 592
Impor 
ts of services
GEM9
56 887
54 486
13 867
14 165
14 406
14 449
13 351
13 953
13 947
13 235
14 382
Total imports of goods and services
GEM8
221 019 202 402
51 997
55 518
58 142
55 362
50 843
50 061
50 285
51 213
54 974
Income
G98C
142 245
85 140
35 898
37 580
36 898
31 869
23 987
21 545
20 921
18 687
21 757
Current transfers
GEM6
14 220
13 890
3 185 
3 443 
3 580 
4 012 
2 899 
3 364 
3 845 
3 782 
3 024
Total
G985
377 484 301 432
91 080
96 541
98 620
91 243
77 729
74 970
75 051
73 682
79 755
Balances
Tr 
ade in goods
LGDT
−53 877 −44 713 −12 093 −13 244 −14 805 −13 735 −12 542 −10 887 −10 904 −10 380 −12 195
Tr 
ade in services
GEN6
44 699
40 647
10 395
10 822
10 159
13 323
11 624
8 949 
8 794 
11 280 
9 494
Total trade in goods and services
GEN5
−9 178
−4 066
−1 698
−2 422
−4 646
−412
−918
−1 938
−2 110 
900
−2 701
Income
G983
−296 
11 774 
6 552 
1 314
−1 794
−6 368 
2 462
−1 125 
4 305 
6 132 
3 777
Current transfers
GEN3
−8 772
−8 839
−1 934
−1 979
−2 248
−2 611
−1 857
−2 109
−2 242
−2 631
−1 953
Total
G97V
−18 246
−1 131 
2 920
−3 087
−8 688
−9 391
−313
−5 172
−47 
4 401
−877

1 EU presented on an EU27 basis. 2 Includes transactions with European Union institutions. 3 Includes transactions with international organisations other than European Union institutions.

## D Summar Y Of International Investment Position, Financial Account And Investment Income Not Seasonally Adjusted £Billion

2008 
2009 
2008 
2008 
2008
2008 
2009
2009 
2009 
2009 
2010
Q1 
Q2 
Q3
Q4 
Q1
Q2 
Q3 
Q4 
Q1
Investment abroad
Inter 
national Investment Position
Direct investment
HBWD
1 046.1 
1 024.4 
896.8 
935.3 
967.1
1 046.1 
1 054.5 
995.8
1 004.8 
1 024.4 
1 041.6
Portfolio investment
HHZZ
1 664.3 
1 889.2 
1 643.0 
1 589.7 
1 591.1 
1 664.3 
1 648.8 
1 646.3 
1 863.0 
1 889.2 
2 012.4
Financial derivatives
JX96
4 040.2 
2 201.5 
2 070.9 
2 063.7 
2 176.0 
4 040.2 
3 908.1 
2 581.7 
2 606.1 
2 201.5 
2 415.1
Other investment
HLXV
4 193.6 
3 544.7 
4 160.2 
3 736.6 
3 947.5 
4 193.6 
3 947.2 
3 549.1 
3 640.6 
3 544.7 
3 775.2
Reser 
ve assets
LTEB
36.3 
40.1 
28.2 
27.6 
27.0
36.3 
34.2
31.7 
40.9 
40.1 
43.3
Total
HBQA
10 980.5
8 700.0 
8 799.1 
8 352.8 
8 708.7 
10 980.5 
10 592.7 
8 804.5 
9 155.5 
8 700.0 
9 287.7
Financial Account transactions
Direct investment
-HJYP
87.6 
30.1 
22.2 
27.7 
16.4
21.3 
14.2
−3.9 
2.6
17.2 
11.0
Portfolio investment
-HHZC
−123.5 
154.1
−18.9 
1.7 
2.7
−108.9 
40.8
38.5 
54.7 
20.1 
12.7
Financial derivatives (net)
-ZPNN
121.7
−29.1 
63.3 
18.3
−14.1 
54.2
9.7
−5.6
−9.7
−23.5
−21.1
Other investment
-XBMM
−599.1
−331.0 
256.4
−387.6 
21.1
−489.0
−168.0
−53.1
−66.6
−43.3 
97.3
Reser 
ve assets
-LTCV
−1.3 
5.8
−0.9 
0.1
−2.1 
1.6
−1.9 
1.3 
6.8
−0.5 
1.3
Total
-HBNR
−514.7
−170.1 
322.1
−339.9 
23.9
−520.8
−105.3
−22.8
−12.2
−29.8 
101.2
Investment income earnings
Direct investment
HJYW
67.3 
73.1 
21.0 
25.0 
18.8
2.5 
15.3
14.4 
23.5 
20.0 
20.4
Portfolio investment
HLYX
67.6 
54.5 
16.5 
17.3 
16.5
17.2 
15.5
15.6 
12.3 
11.2 
11.6
Other investment
AIOP
125.3 
44.7 
34.8 
30.4 
30.2
29.8 
16.1
11.4 
8.8 
8.4 
7.5
Reser 
ve assets
HHCB
0.8 
0.8 
0.2 
0.2 
0.2
0.2 
0.2
0.2 
0.2 
0.2 
0.2
Total
HMBN
261.0 
173.1
72.6 
72.8 
65.8
49.8 
47.2
41.6 
44.7 
39.7 
39.7
Investment in the UK
Inter 
national Investment Position
Direct investment
HBWI
668.5 
671.8 
639.8 
651.8 
648.9
668.5 
664.0
659.3 
666.6 
671.8 
697.2
Portfolio investment
HLXW
1 978.2 
2 376.9 
1 930.8 
1 980.5 
1 953.0 
1 978.2 
2 001.4 
2 101.5 
2 345.1 
2 376.9 
2 462.1
Financial derivatives
JX97
3 915.3 
2 121.9 
2 014.8 
1 993.8 
2 109.1 
3 915.3 
3 770.0 
2 462.0 
2 500.5 
2 121.9 
2 353.0
Other investment
HLYD
4 520.1 
3 804.4 
4 540.8 
4 052.5 
4 254.6 
4 520.1 
4 227.9 
3 809.4 
3 921.7 
3 804.4 
3 993.7
Total
HBQB
11 082.0
8 975.0 
9 126.2 
8 678.5 
8 965.7 
11 082.0 
10 663.2 
9 032.2 
9 434.0 
8 975.0 
9 505.8
Financial Account transactions
Direct investment
HJYU
49.8 
14.8 
27.9 
13.7
−4.4 
12.5
−1.8
−3.1 
6.3
13.4 
25.9
Portfolio investment
HHZF
200.5 
189.0
47.3 
110.4
32.5 
10.3
104.2 
41.6 
28.4 
14.8 
30.7
Other investment
XBMN
−739.2
−368.2 
242.1
−459.1 
6.7
−528.9
−213.4
−57.5
−45.4
−52.0 
45.7
Total
HBNS
−488.9
−164.5 
317.3
−335.0 
34.8
−506.1
−111.1
−19.0
−10.7
−23.7 
102.2
Investment income
Direct investment
HJYX
5.6 
19.4
1.5 
5.9 
1.4
−3.2 
1.2
4.5 
8.9 
4.8
11.4
Portfolio investment
HLZC
74.5 
60.2 
16.2 
21.6 
19.2
17.5 
16.4
16.9 
13.7 
13.2 
14.4
Other investment
HLZN
152.1 
61.6 
40.6 
38.8 
37.0
35.7 
21.1
17.4 
12.5 
10.6
9.9
Total
HMBO
232.2 
141.2
58.4 
66.3 
57.5
50.0 
38.7
38.7 
35.1 
28.6 
35.7
Net investment
Inter 
national Investment Position
Direct investment
HBWQ
377.6 
352.7 
257.0 
283.5 
318.2
377.6 
390.5
336.5 
338.2 
352.7 
344.4
Portfolio investment
CGNH
−313.8
−487.7
−287.7
−390.8
−361.9
−313.8
−352.6
−455.3
−482.1
−487.7
−449.6
Financial derivatives
JX98
124.9 
79.6 
56.1 
69.9 
66.9 
124.9 
138.1
119.7 
105.6
79.6 
62.2
Other investment
CGNG
−326.5
−259.7
−380.5
−315.9
−307.1
−326.5
−280.7
−260.3
−281.1
−259.7
−218.4
Reser 
ve assets
LTEB
36.3 
40.1 
28.2 
27.6 
27.0
36.3 
34.2
31.7 
40.9 
40.1 
43.3
Net investment
HBQC
−101.5
−275.0
−327.0
−325.7
−257.0
−101.5
−70.5
−227.7
−278.4
−275.0
−218.2
Financial Accounts transactions
Direct investment
HJYV
−37.8
−15.4 
5.7
−14.0
−20.8
−8.8
−16.0 
0.7 
3.7
−3.8 
14.8
Portfolio investment
HHZD
324.1 
34.8 
66.3
108.7 
29.8 
119.3
63.4 
3.1
−26.3
−5.3 
18.0
Financial derivatives
ZPNN
−121.7 
29.1
−63.3
−18.3 
14.1
−54.2
−9.7 
5.6 
9.7
23.5 
21.1
Other investment
HHYR
−140.1
−37.2
−14.3
−71.4
−14.4
−39.9
−45.4
−4.4 
21.3
−8.7
−51.6
Reser 
ve assets
LTCV
1.3
−5.8 
0.9
−0.1 
2.1
−1.6 
1.9
−1.3
−6.8 
0.5
−1.3
Net transactions
HBNT
25.8 
5.6
−4.8 
4.9
10.9 
14.7
−5.8 
3.8 
1.5 
6.1 
1.0
Investment income earnings
Direct investment
HJYE
61.7 
53.7 
19.5 
19.1 
17.5
5.7 
14.1 
9.9
14.6 
15.1
9.1
Portfolio investment
HLZX
−6.9
−5.7 
0.3
−4.3
−2.7
−0.3
−0.9
−1.3
−1.5
−2.0
−2.8
Other investment
CGNA
−26.8
−16.9
−5.8
−8.4
−6.7
−5.9
−5.0
−5.9
−3.7
−2.3
−2.5
Reser 
ve assets
HHCB
0.8 
0.8 
0.2 
0.2 
0.2
0.2 
0.2
0.2 
0.2 
0.2 
0.2
Net earnings
HMBM
28.8 
32.0 
14.2
6.6 
8.3
−0.3 
8.4
2.9 
9.6
11.1 
4.0
£ million
2008 
2009
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009 
2010
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4 
Q1
Expor 
ts
Food, beverages and tobacco
BOPL
13 738
14 477
3 304 
3 364 
3 577 
3 493 
3 568 
3 618 
3 556 
3 735 
3 767
Basic materials
BOPM
6 637 
5 207 
1 557 
1 940 
1 846 
1 294 
1 170 
1 232 
1 307 
1 498 
1 646
Oil
ELBL
32 212
24 624
7 155 
9 169 
9 021 
6 867 
5 454 
5 872 
6 107 
7 191 
7 715
Other fuels
BOQI
3 550 
2 364 
612 
943
1 015 
980 
793 
614 
420 
537 
704
Semi-manufactured goods
BOPO
76 317
71 492
18 445
19 436
19 935
18 501
17 712
16 993
18 062
18 725
19 200
Finished manufactured goods
BOPP
117 840
107 351
29 336
29 764
30 099
28 641
26 642
25 859
26 479
28 371
28 763
Unspecified goods
BOQL
1 791 
2 022 
360 
421 
522 
488 
456 
444 
505 
617 
492
Total
BOKG
252 086
227 537
60 769
65 037
66 015
60 265
55 795
54 632
56 436
60 674
62 287
Impor 
ts
Food, beverages and tobacco
BQAR
31 141
32 250
7 407 
7 799 
7 894 
8 041 
8 091 
8 122 
7 796 
8 241 
7 977
Basic materials
BQAS
10 998
7 601 
2 806 
2 873 
2 914 
2 405 
1 906 
1 816 
1 879 
2 000 
2 280
Oil
ENXO
38 021
27 760
8 530 
10 711 
11 040 
7 740 
6 238 
6 203 
7 440 
7 879 
7 980
Other fuels
BPBI
10 568
7 432 
2 244 
2 335 
2 843 
3 146 
2 648 
1 671 
1 473 
1 640 
1 950
Semi-manufactured goods
BQAU
79 889
74 620
19 502
20 395
20 858
19 134
18 580
18 464
18 028
19 548
20 801
Finished manufactured goods
BQAV
172 018
157 025
43 138
43 984
43 751
41 145
38 702
37 694
38 967
41 662
42 240
Unspecified goods
BQAW
2 567 
2 724 
623 
595 
545 
804 
608 
630 
674 
812 
716
Total
BOKH
345 202
309 412
84 250
88 692
89 845
82 415
76 773
74 600
76 257
81 782
83 944
Balances
Food, beverages and tobacco
ELBE
−17 403
−17 773
−4 103
−4 435
−4 317
−4 548
−4 523
−4 504
−4 240
−4 506
−4 210
Basic materials
ELBF
−4 361
−2 394
−1 249
−933
−1 068
−1 111
−736
−584
−572
−502
−634
Oil
ENXQ
−5 809
−3 136
−1 375
−1 542
−2 019
−873
−784
−331
−1 333
−688
−265
Other fuels
ENIW
−7 018
−5 068
−1 632
−1 392
−1 828
−2 166
−1 855
−1 057
−1 053
−1 103
−1 246
Semi-manufactured goods
ELBH
−3 572
−3 128
−1 057
−959
−923
−633
−868
−1 471 
34
−823
−1 601
Finished manufactured goods
ELBI
−54 178
−49 674
−13 802
−14 220
−13 652
−12 504
−12 060
−11 835
−12 488
−13 291
−13 477
Unspecified goods
BQKX
−776
−702
−263
−174
−23
−316
−152
−186
−169
−195
−224
Total
BOKI
−93 116
−81 875
−23 481
−23 655
−23 830
−22 150
−20 978
−19 968
−19 821
−21 108
−21 657

## Trade In Services Seasonally Adjusted £ Million

2008 
2009
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009 
2010
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4 
Q1
Expor 
ts
Tr 
anspor 
tation
FKOA
20 884
20 708
4 917 
5 089 
5 349 
5 529 
5 297 
4 999 
4 967 
5 445 
5 313
Tr 
avel
FAPO
19 598
19 282
5 009 
5 025 
4 824 
4 740 
4 868 
4 822 
4 810 
4 782 
4 647
Communications
FDQP
4 262 
4 485 
1 027 
965
1 150 
1 120 
1 191 
1 129 
970
1 195 
1 099
Constr 
uction
FDSG
1 246 
1 625 
271 
269 
334 
372 
370 
403 
365 
487 
263
Insurance
FDTF
7 604 
8 333 
1 919 
1 526 
1 784 
2 375 
2 032 
2 251 
2 190 
1 860 
1 966
Financial
FDYI
52 821
43 852
12 730
13 121
12 012
14 958
11 983
10 574
10 484
10 811
10 456
Computer and infor 
mation
FDYQ
7 258 
6 902 
1 619 
1 895 
1 917 
1 827 
1 936 
1 891 
1 629 
1 446 
1 796
Royalties and license fees
FEBA
7 987 
7 610 
1 883 
1 904 
2 043 
2 157 
1 953 
1 892 
1 880 
1 885 
1 560
Other business
FEHH
44 727
42 243
10 368
11 330
11 476
11 553
10 870
10 213
10 350
10 810
11 079
Personal, cultural and recreational
FGXJ
2 274 
1 951 
553 
564 
576 
581 
419 
442 
547 
543 
400
Government
FGZA
2 158 
2 120 
535 
521 
498 
604 
544 
504 
509 
563 
527
Total
IKBB
170 819
159 111
40 831
42 209
41 963
45 816
41 463
39 120
38 701
39 827
39 106
Impor 
ts
Tr 
anspor 
tation
FHME
19 175
17 707
4 808 
4 830 
4 939 
4 598 
4 528 
4 468 
4 363 
4 348 
4 368
Tr 
avel
APQL
37 256
32 297
9 712 
9 344 
9 356 
8 844 
8 504 
8 125 
7 963 
7 705 
7 682
Communications
FIND
4 346 
4 041 
1 036 
1 027 
1 066 
1 217 
1 071 
997 
984 
989 
983
Constr 
uction
FIOU
1 095 
1 433 
193 
215 
273 
414 
320 
350 
320 
443 
254
Insurance
FIPT
1 108 
1 006 
280 
304 
277 
247 
259 
254 
243 
250 
299
Financial
FITY
13 146
10 933
3 159 
3 407 
3 183 
3 397 
3 043 
2 488 
2 737 
2 665 
2 948
Computer and infor 
mation
FIUG
3 391 
3 818 
988 
678 
873 
852 
813
1 005 
977
1 023 
1 030
Royalties and license fees
FIVX
5 750 
5 814 
1 375 
1 377 
1 424 
1 574 
1 474 
1 447 
1 441 
1 452 
1 425
Other business
FIWF
25 218
27 750
5 908 
6 291 
6 410 
6 609 
7 039 
7 187 
6 754 
6 770 
6 798
Personal, cultural and recreational
FLQJ
1 094 
667
270 
287 
263 
274 
167 
188 
150 
162 
165
Government
FLSA
3 884 
3 793 
933 
936 
877
1 138 
1 111 
1 005 
738 
939 
630
Total
IKBC
115 463
109 259
28 662
28 696
28 941
29 164
28 329
27 514
26 670
26 746
26 582
Balances
Tr 
anspor 
tation
FLYS
1 709 
3 001 
109 
259 
410 
931 
769 
531 
604
1 097 
945
Tr 
avel
FNGY
−17 658
−13 015
−4 703
−4 319
−4 532
−4 104
−3 636
−3 303
−3 153
−2 923
−3 035
Communications
FNIT
−84 
444
−9
−62 
84
−97 
120 
132
−14 
206 
116
Constr 
uction
FNJM
151 
192 
78 
54 
61
−42 
50 
53 
45 
44
9
Insurance
FNKF
6 496 
7 327 
1 639 
1 222 
1 507 
2 128 
1 773 
1 997 
1 947 
1 610 
1 667
Financial
FNLQ
39 675
32 919
9 571 
9 714 
8 829 
11 561 
8 940 
8 086 
7 747 
8 146 
7 508
Computer and infor 
mation
FNLY
3 867 
3 084 
631
1 217 
1 044 
975
1 123 
886 
652 
423 
766
Royalties and license fees
FNMR
2 237 
1 796 
508 
527 
619 
583 
479 
445 
439 
433 
135
Other business
FNMZ
19 509
14 493
4 460 
5 039 
5 066 
4 944 
3 831 
3 026 
3 596 
4 040 
4 281
Personal, cultural and recreational
FNRB
1 180 
1 284 
283 
277 
313 
307 
252 
254 
397 
381 
235
Government
FNRU
−1 726
−1 673
−398
−415
−379
−534
−567
−501
−229
−376
−103
Total
IKBD
55 356
49 852
12 169
13 513
13 022
16 652
13 134
11 606
12 031
13 081
12 524
£ million
2008 
2009
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009 
2010
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4 
Q1
Credits
Compensation of employees
IJAH
1 046 
916
266 
264 
262 
254 
253 
233 
217 
213 
228
Investment income
Ear 
nings on direct investment abroad
CNZQ
67 323
73 127
22 477
23 761
17 789
3 296 16 775 13 070 22 395 20 887 21 961
Ear 
nings on portfolio investment abroad
Ear 
nings on equity securities
CGDT
20 085
17 060
5 013 
4 801 
5 321 
4 950 
4 963 
4 130 
4 015 
3 952 
3 820
Ear 
nings on debt securities
CGDU
47 472
37 453
11 602
11 407
11 532
12 931
10 633
10 592
8 497 
7 731 
7 808
Total portfolio investment
CGDV
67 557
54 513
16 615
16 208
16 853
17 881
15 596
14 722
12 512
11 683
11 628
Ear 
nings on other investment abroad
CGDW
125 310
44 705
34 847
30 386
30 246
29 831
16 121
11 428
8 784 
8 372 
7 486
Ear 
nings on reserve assets
HHCC
777 
783
187 
186 
191 
213 
210 
191 
190 
192 
172
Total investment income
HBOK
260 967
173 128
74 126
70 541
65 079
51 221
48 702
39 411
43 881
41 134
41 247
Total
HBOH
262 013
174 044
74 392
70 805
65 341
51 475
48 955
39 644
44 098
41 347
41 475
Debits
Compensation of employees
IJAI
1 761 
1 604 
401 
466 
420 
474 
387 
386 
401 
430 
391
Investment income
Foreign earnings on direct investment in the UK
CNZR
5 623 
19 389 
2 077 
5 952 
1 370
−3 776 
1 750 
4 505 
8 881 
4 253 11 942
Foreign earnings on portfolio investment in the UK
Ear 
nings on equity securities
HGOT
26 326
21 959
6 059 
6 756 
6 959 
6 552 
5 981 
4 306 
6 123 
5 549 
6 085
Ear 
nings on debt securities
CGDX
48 153
38 217
11 383
12 157
12 619
11 994
11 308
10 853
7 545 
8 511 
8 977
Total portfolio investment
CGDZ
74 479
60 176
17 442
18 913
19 578
18 546
17 289
15 159
13 668
14 060
15 062
Ear 
nings on other investment in the UK
CGEB
152 115
61 593
41 161
38 170
37 046
35 738
21 477
16 773
12 641
10 702
10 238
Total investment income
HBOL
232 217
141 158
60 680
63 035
57 994
50 508
40 516
36 437
35 190
29 015
37 242
Total
HBOI
233 978
142 762
61 081
63 501
58 414
50 982
40 903
36 823
35 591
29 445
37 633
Balances
Compensation of employees
IJAJ
−715
−688
−135
−202
−158
−220
−134
−153
−184
−217
−163
Investment income
Direct investment
CVWX
61 700
53 738
20 400
17 809
16 419
7 072 15 025 
8 565 13 514 16 634 10 019
Portfolio investment
Ear 
nings on equity securities
CGEC
−6 241
−4 899
−1 046
−1 955
−1 638
−1 602
−1 018
−176
−2 108
−1 597
−2 265
Ear 
nings on debt securities
CGED
−681
−764 
219
−750
−1 087 
937
−675
−261 
952
−780
−1 169
Total portfolio investment
CGEE
−6 922
−5 663
−827
−2 705
−2 725
−665
−1 693
−437
−1 156
−2 377
−3 434
Other investment
CGFF
−26 805
−16 888
−6 314
−7 784
−6 800
−5 907
−5 356
−5 345
−3 857
−2 330
−2 752
Reser 
ve assets
HHCC
777 
783
187 
186 
191 
213 
210 
191 
190 
192 
172
Total investment income
HBOM
28 750
31 970
13 446
7 506 
7 085 
713
8 186 
2 974 
8 691 12 119 
4 005
Total
HBOJ
28 035
31 282
13 311
7 304 
6 927 
493
8 052 
2 821 
8 507 11 902 
3 842
£ million
2008 
2009
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009 
2010
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4 
Q1
Credits
General government
Receipts from EU Institutions:
Abatement
FKKM
4 862 
5 392 
1 091 
981 
720
2 070 
1 582 
1 818 
1 222 
770 
886
Other EU receipts
GTTA
134 
136 
19 
37
9
69
9
19 
7
101 
3
Other receipts
CGDN
656 
630
152 
170 
155 
179 
161 
159 
164 
146 
153
Total general government
FHDM
5 652 
6 158 
1 262 
1 188 
884
2 318 
1 752 
1 996 
1 393 
1 017 
1 042
Other sectors
Receipts from EU Institutions:
Social fund1
H5U3
504 
499
131 
46
−
327 
54 
84 
55
306 
18
Agricultural guarantee fund
ZXIA
3 049 
3 387 
720 
776 
776 
777 
777 
870 
870 
870 
870
ECSC Grant
FHHS
−
−
−
−
−
−
−
−
−
−
−
Other receipts
CGDO
7 116 
6 579 
1 915 
1 802 
1 699 
1 700 
1 673 
1 504 
1 944 
1 458 
1 590
Total other sectors
FHIB
10 669
10 465
2 766 
2 624 
2 475 
2 804 
2 504 
2 458 
2 869 
2 634 
2 478
Total
IKBN
16 321
16 623
4 028 
3 812 
3 359 
5 122 
4 256 
4 454 
4 262 
3 651 
3 520
Debits
General government
Pa 
yments to EU institutions
GNP:4th resource
HCSP
8 628 
10 692 
2 436 
2 149 
1 623 
2 420 
2 553 
3 784 
2 171 
2 184 
2 575
GNP adjustments
HCSN
−205
−137
−
−
−
−205
−
−
−
−137
−
Other
FLMT
5
−14 
4
−
−
1
−
−
−
−14
−
Other payments
CGDP
6 298 
6 803 
1 545 
1 340 
1 580 
1 833 
1 494 
1 549 
1 774 
1 986 
1 783
Total general government
FLUD
14 726
17 344
3 985 
3 489 
3 203 
4 049 
4 047 
5 333 
3 945 
4 019 
4 358
Other sectors
Pa 
yments to EU institutions
CGDR
4 906 
4 238 
1 348 
1 252 
1 138 
1 168 
1 526 
834
1 191 
687
1 062
Other payments
CGDS
10 740
9 806 
2 798 
2 681 
2 599 
2 662 
2 464 
2 283 
2 760 
2 299 
2 437
Total other sectors
FLUZ
15 646
14 044
4 146 
3 933 
3 737 
3 830 
3 990 
3 117 
3 951 
2 986 
3 499
Total
IKBO
30 372
31 388
8 131 
7 422 
6 940 
7 879 
8 037 
8 450 
7 896 
7 005 
7 857
Balances
General government
FNSV
−9 074
−11 186
−2 723
−2 301
−2 319
−1 731
−2 295
−3 337
−2 552
−3 002
−3 316
Other sectors
FNTC
−4 977
−3 579
−1 380
−1 309
−1 262
−1 026
−1 486
−659
−1 082
−352
−1 021
Total
IKBP
−14 051
−14 765
−4 103
−3 610
−3 581
−2 757
−3 781
−3 996
−3 634
−3 354
−4 337
Of which: EU institutions
GTTB
−4 785
−5 365
−1 827
−1 561
−1 256
−141
−1 657
−1 827
−1 208
−673
−1 860

## I Capital Account Seasonally Adjusted £ Million

2008 
2009 
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009 
2010
Q1 
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
Migrants' transfers
FHJC
3 200 
3 467 
773 
787 
802 
838 
848 
859 
872 
888 
901
Debt forgiveness
FHJD
−
−
−
−
−
−
−
−
−
−
−
EU Institutions:
Regional development fund
GTTX
972 
640 
466 
277
44 
185 
151 
164 
152 
173 
431
Agricultural fund for regional development
FHJF
417 
144 
124 
167
54 
72
7
87
50
−
102
Other capital transfers
EBGO
−
−
−
−
−
−
−
−
−
−
−
Total EU institutions
GTTY
1 389 
784 
590 
444
98 
257 
158 
251 
202 
173 
533
Total other sectors
FHJB
4 589 
4 251 
1 363 
1 231 
900
1 095 
1 006 
1 110 
1 074 
1 061 
1 434
Total capital transfers
FHIT
4 589 
4 251 
1 363 
1 231 
900
1 095 
1 006 
1 110 
1 074 
1 061 
1 434
Sales of non-produced, non-financial assets
FHJL
1 074 
1 281 
287 
288 
210 
289 
331 
334 
289 
327 
353
Total
FHLD
5 663 
5 532 
1 650 
1 519 
1 110 
1 384 
1 337 
1 444 
1 363 
1 388 
1 787
Debits
Capital transfers
Central government
Debt forgiveness
FLWD
73 
49 
54
1
3
15 
44
1
1
3
46
Other capital transfers (project grants)
FLWH
491 
545 
117 
110 
109 
155 
128 
118 
145 
154 
128
Total central government
FLWB
564 
594 
171 
111 
112 
170 
172 
119 
146 
157 
174
Other sectors
Migrants' transfers
FLWJ
744 
745 
195 
184 
182 
183 
208 
184 
177 
176 
203
Debt Forgiveness
Monetar 
y financial institutions
FLWL
−
−
−
−
−
−
−
−
−
−
−
Public corporations
HMLY
−
−
−
−
−
−
−
−
−
−
−
Total debt forgiveness
JCWM
−
−
−
−
−
−
−
−
−
−
−
Other capital transfers
FLWQ
−
−
−
−
−
−
−
−
−
−
−
Total other sectors
FLWI
744 
745 
195 
184 
182 
183 
208 
184 
177 
176 
203
Total capital transfers
FLWA
1 308 
1 339 
366 
295 
294 
353 
380 
303 
323 
333 
377
Purchases of non-produced, non-financial assets
FLWT
1 114 
974 
304 
281 
245 
284 
197 
271 
294 
212 
227
Total
FLYL
2 422 
2 313 
670 
576 
539 
637 
577 
574 
617 
545 
604
Balances
Capital transfers
Central government
Debt forgiveness
FNTM
−73
−49
−54
−1
−3
−15
−44
−1
−1
−3
−46
Other capital transfers
FNTN
−491
−545
−117
−110
−109
−155
−128
−118
−145
−154
−128
Total central government
FNTL
−564
−594
−171
−111
−112
−170
−172
−119
−146
−157
−174
Other sectors
Migrants' transfers
FNTP
2 456 
2 722 
578 
603 
620 
655 
640 
675 
695 
712 
698
Debt forgiveness
FNTQ
−
−
−
−
−
−
−
−
−
−
−
Other capital transfers
FNTR
1 389 
784 
590 
444
98 
257 
158 
251 
202 
173 
533
Total other sectors
FNTO
3 845 
3 506 
1 168 
1 047 
718 
912 
798 
926 
897 
885
1 231
Total capital transfers
FNTK
3 281 
2 912 
997 
936 
606 
742 
626 
807 
751 
728
1 057
Non-produced, non-financial assets
FNTS
−40 
307
−17 
7
−35 
5
134 
63
−5
115 
126
Total
FNVQ
3 241 
3 219 
980 
943 
571 
747 
760 
870 
746 
843
1 183

## J Financial Account Not Seasonally Adjusted £ Million

2008 
2009
2008 
2008
2008 
2008 
2009
2009 
2009 
2009
2010
Q1 
Q2
Q3 
Q4 
Q1
Q2 
Q3 
Q4
Q1
UK investment abroad
(net debits)
Direct investment abroad
Equity capital
-HJYM
43 842
14 628
12 728
8 461 
4 509 
18 144 
4 922 
2 543 
7 845
−682 
1 530
Reinvested earnings
-HDNY
34 903
25 843
17 252
15 281
14 878
−12 508
6 390 
6 704 
7 489 
5 260 
11 663
Other capital transactions
-HMAB
8 863
−10 355
−7 743 
3 913
−2 982 
15 675 
2 850 −13 104 −12 757
12 656
−2 151
Total direct investment abroad
-HJYP
87 608
30 116
22 237
27 655
16 405
21 311
14 162
−3 857 
2 577 
17 234 
11 042
Portfolio investment abroad
Equity securities
-HBVI
−60 010
11 561 −24 026
−18 073
3 475
−21 386
−7 756 
2 942 
8 632 
7 743 −13 180
Debt securities
-XBMW
−63 535
142 584
5 085 
19 752
−825
−87 547
48 534
35 581
46 078
12 391
25 896
Total portfolio investment abroad
-HHZC
−123 545
154 145 −18 941
1 679 
2 650 −108 933
40 778
38 523
54 710
20 134
12 716
Financial derivatives (net)
-ZPNN
121 684
−29 104
63 328
18 293 −14 144
54 207
9 688
−5 648
−9 666 −23 478 −21 135
Other investment abroad
-XBMM
−599 133 −330 996 256 358 −387 637
21 148 −489 002 −168 033 −53 078 −66 620 −43 265
97 295
Reser 
ve assets
-LTCV
−1 338 
5 763
−931 
108
−2 132 
1 617
−1 877 
1 304 
6 787
−451 
1 323
Total
-HBNR
−514 724 −170 076 322 051 −339 902
23 927 −520 800 −105 282 −22 756 −12 212 −29 826 101 241
Investment in the UK
(net credits)
Direct investment in the UK
Equity capital
HJYR
51 996
22 266
27 656
11 321
1 892 
11 127 
4 149 
2 023 
2 190 
13 904 
13 770
Reinvested earnings
CYFV
4 739 
9 280 
2 554 
5 454
−1 201
−2 068 
1 238
−356 
5 750 
2 648 
3 552
Other capital transactions
HMAD
−6 968
−16 787
−2 277
−3 074
−5 049 
3 432
−7 221
−4 775
−1 683
−3 108 
8 547
Total direct investment in the UK
HJYU
49 767
14 759
27 933
13 701
−4 358 
12 491
−1 834
−3 108 
6 257 
13 444 
25 869
Portfolio investment in the UK
Equity securities
XBLW
37 538
51 829
5 907 
25 111
−1 337 
7 857 
34 037 
13 076
−4 926 
9 642
−7 166
Debt securities
XBLX
162 993
137 151
41 410
85 295
33 808
2 480 
70 141 
28 531 
33 302 
5 177 
37 852
Total portfolio investment in the UK
HHZF
200 531
188 980
47 317
110 406
32 471
10 337
104 178
41 607
28 376
14 819
30 686
Other investment in the UK
XBMN
−739 211 −368 218 242 050 −459 080
6 721 −528 902 −213 410 −57 474 −45 358 −51 976
45 691
Total
HBNS
−488 913 −164 479 317 300 −334 973
34 834 −506 074 −111 066 −18 975 −10 725 −23 713 102 246
Net transactions
(net credits *less* net debits)
Direct investment
Equity capital
HBWN
8 154 
7 638 
14 928 
2 860
−2 617
−7 017
−773
−520
−5 655 
14 586 
12 240
Reinvested earnings
HBWT
−30 164
−16 563 −14 698
−9 827 −16 079
10 440
−5 152
−7 060
−1 739
−2 612
−8 111
Other capital transactions
HBWU
−15 831
−6 432 
5 466
−6 987
−2 067
−12 243
−10 071
8 329 
11 074 −15 764
10 698
Total net direct investment
HJYV
−37 841
−15 357
5 696
−13 954 −20 763
−8 820
−15 996
749 
3 680
−3 790 
14 827
Portfolio investment
Equity securities
HBWV
97 548
40 268
29 933
43 184
−4 812 
29 243 
41 793 
10 134 −13 558
1 899 
6 014
Debt securities
HBWX
226 528
−5 433 
36 325 
65 543 
34 633 
90 027 
21 607
−7 050 −12 776
−7 214 
11 956
Total net portfolio investment
HHZD
324 076
34 835
66 258
108 727
29 821
119 270
63 400
3 084 −26 334
−5 315 
17 970
Financial derivatives
ZPNN
−121 684
29 104 −63 328
−18 293
14 144
−54 207
−9 688 
5 648 
9 666 
23 478 
21 135
Other investment
HHYR
−140 078
−37 222 −14 308
−71 443 −14 427
−39 900
−45 377
−4 396 
21 262
−8 711 −51 604
Reser 
ve assets
LTCV
1 338
−5 763 
931
−108 
2 132
−1 617 
1 877
−1 304
−6 787 
451
−1 323
Total
HBNT
25 811
5 597
−4 751 
4 929 
10 907 
14 726
−5 784 
3 781 
1 487 
6 113 
1 005

## K International Investment Position Balance Sheets Valued At End Of Period: Not Seasonally Adjusted £Billion

2008 
2009 
2008 
2008 
2008
2008 
2009
2009 
2009 
2009 
2010
Q1 
Q2 
Q3
Q4 
Q1
Q2 
Q3 
Q4 
Q1
UK Assets
Direct investment abroad
Equity capital and reinvested earnings
CGMO
1 013.5 
999.2 
881.8 
916.0 
950.3
1 013.5 
1 017.0 
971.6 
992.5 
999.2
1 017.7
Other capital assets
HBUW
32.7 
25.2 
15.1 
19.3 
16.8
32.7 
37.5
24.2 
12.4 
25.2 
23.9
Total direct investment abroad
HBWD
1 046.1 1 024.4 
896.8 
935.3 
967.1
1 046.1 
1 054.5 
995.8
1 004.8 1 024.4 1 041.6
Portfolio investment abroad
Equity securities
HEPX
565.2 
685.4 
684.5 
653.4 
607.6
565.2 
504.0
552.1 
647.3 
685.4 
711.2
Debt securities
HHZX
1 099.1 1 203.8 
958.5 
936.3 
983.5
1 099.1 
1 144.8 1 094.1 1 215.7 1 203.8 1 301.2
Total portfolio investment abroad
HHZZ
1 664.3 1 889.2 1 643.0 1 589.7 1 591.1 
1 664.3 
1 648.8 1 646.3 1 863.0 1 889.2 2 012.4
Financial derivatives
JX96
4 040.2 2 201.5 2 070.9 2 063.7 2 176.0 
4 040.2 
3 908.1 2 581.7 2 606.1 2 201.5 2 415.1
Other investment abroad
HLXV
4 193.6 3 544.7 4 160.2 3 736.6 3 947.5 
4 193.6 
3 947.2 3 549.1 3 640.6 3 544.7 3 775.2
Reser 
ve assets
LTEB
36.3 
40.1 
28.2 
27.6 
27.0
36.3 
34.2
31.7 
40.9 
40.1 
43.3
Total
HBQA
10 980.5
8 700.0 8 799.1 8 352.8 8 708.7 10 980.5 10 592.7 8 804.5 9 155.5 8 700.0 9 287.7
UK Liabilities
Direct investment in the UK
Equity capital and reinvested earnings
HBUY
537.5 
560.2 
506.6 
521.3 
522.5
537.5 
540.6
541.0 
552.1 
560.2 
577.2
Other capital liabilities
HBVC
131.0 
111.6 
133.2 
130.5 
126.4
131.0 
123.4
118.3 
114.6 
111.6 
119.9
Total direct investment in the UK
HBWI
668.5 
671.8 
639.8 
651.8 
648.9
668.5 
664.0
659.3 
666.6 
671.8 
697.2
Portfolio investment in the UK
Equity securities
HLXX
603.2 
830.4 
756.2 
743.4 
667.4
603.2 
584.7
660.3 
793.8 
830.4 
869.0
Debt securities
HLXY
1 375.0 1 546.6 1 174.5 1 237.1 1 285.6 
1 375.0 
1 416.6 1 441.2 1 551.3 1 546.6 1 593.0
Total portfolio investment in the UK
HLXW
1 978.2 2 376.9 1 930.8 1 980.5 1 953.0 
1 978.2 
2 001.4 2 101.5 2 345.1 2 376.9 2 462.1
Financial derivatives
JX97
3 915.3 2 121.9 2 014.8 1 993.8 2 109.1 
3 915.3 
3 770.0 2 462.0 2 500.5 2 121.9 2 353.0
Other investment in the UK
HLYD
4 520.1 3 804.4 4 540.8 4 052.5 4 254.6 
4 520.1 
4 227.9 3 809.4 3 921.7 3 804.4 3 993.7
Total
HBQB
11 082.0
8 975.0 9 126.2 8 678.5 8 965.7 11 082.0 10 663.2 9 032.2 9 434.0 8 975.0 9 505.8
Net International Investment Position
Direct investment
Equity capital and reinvested earnings
HBSH
476.0 
439.0 
375.2 
394.7 
427.8
476.0 
476.4
430.6 
440.4 
439.0 
440.4
Other capital
CGKF
−98.4
−86.4
−118.2
−111.2
−109.6
−98.4
−85.9
−94.1
−102.2
−86.4
−96.0
Total net direct investment
HBWQ
377.6 
352.7 
257.0 
283.5 
318.2
377.6 
390.5
336.5 
338.2 
352.7 
344.4
Portfolio investment
Equity securities
CGNE
−37.9
−145.0
−71.8
−90.0
−59.8
−37.9
−80.8
−108.2
−146.5
−145.0
−157.8
Debt securities
CGNF
−275.9
−342.8
−216.0
−300.8
−302.2
−275.9
−271.8
−347.1
−335.6
−342.8
−291.8
Total net portfolio investment
CGNH
−313.8
−487.7
−287.7
−390.8
−361.9
−313.8
−352.6
−455.3
−482.1
−487.7
−449.6
Financial derivatives
JX98
124.9 
79.6 
56.1 
69.9 
66.9 
124.9 
138.1
119.7 
105.6
79.6 
62.2
Other investment
CGNG
−326.5
−259.7
−380.5
−315.9
−307.1
−326.5
−280.7
−260.3
−281.1
−259.7
−218.4
Reser 
ve assets
LTEB
36.3 
40.1 
28.2 
27.6 
27.0
36.3 
34.2
31.7 
40.9 
40.1 
43.3
Total
HBQC
−101.5
−275.0
−327.0
−325.7
−257.0
−101.5
−70.5
−227.7
−278.4
−275.0
−218.2

## R1 Summar Y Of Revisions Since Last Balance Of Payments Statistical Bulletin Balances (Net Transactions)

£ million
2008 
2009
2007 
2008 
2008 
2008 
2008 
2009
2009 
2009
2009
Q4 
Q1 
Q2 
Q3 
Q4 
Q1
Q2 
Q3
Q4
Seasonally adjusted Current account
Tr 
ade in goods and services
Tr 
ade in goods
BOKI
265
−85
−
45 
31 
29
160 
102
−121
−5
−61
Tr 
ade in services
IKBD
214 
539
445
−16
−75 
97
208
−20
−70
−64 
693
Total trade
IKBJ
479 
454
445 
29
−44 
126 
368
82
−191
−69 
632
Income
Compensation of employees
IJAJ
−1
−
2
−12
−2
11
2
−3
−
2
1
Investment income
HBOM
−2 257 
2 626 
386
−800
−387 
379
−1 449 
568
−2 764 
3 206 
1 616
Total income
HBOJ
−2 258 
2 626 
388
−812
−389 
390
−1 447 
565
−2 764 
3 208 
1 617
Current transfers
Central government
FNSV
19 
4
84
−54
−138
−122 
333
21 
41
−42
−16
Other sectors
FNTC
−41
−155
−74 
42 
35
−1
−117
−32 
7
−102
−28
Total current transfers
IKBP
−22
−151 
10
−12
−103
−123 
216
−11 
48
−144
−44
Current balance
HBOP
−1 801 
2 929 
843
−795
−536 
393
−863 
636
−2 907 
2 995 
2 205
Capital balance
FNVQ
−
−410 
1
−3
−1
−2
6
−131
−38
−111
−130
Not seasonally adjusted Current account
Tr 
ade in goods and services
Tr 
ade in goods
LQCT
265
−85
−
48 
48 
52
117 
41
−79
−25
−22
Tr 
ade in services
KTMS
214 
539
358 
1
82
−17 
148 
136
−163
−349 
915
Total trade
KTMY
479 
454
358 
49
130 
35
265 
177
−242
−374 
893
Income
Compensation of employees
KTMP
−1
−
1
−1
−
−
−
−
−
−
 −
Investment income
HMBM
−2 257 
2 626
−446
−1 154
−818
−301 
16
248
−3 393 
3 371 
2 400
Total income
HMBP
−2 258 
2 626
−445
−1 155
−818
−301 
16
248
−3 393 
3 371 
2 400
Current transfers
Central government
FJUQ
19 
4
1
8
5
35
−29
−
−1
2
 3
Other sectors
FJUR
−41
−155
−8
−
−14
−44 
17
−
−39
−61
−55
Total current transfers
KTNF
−22
−151
−7
8
−9
−9
−12
−
−40
−59
−52
Current balance
HBOG
−1 801 
2 929
−94
−1 098
−697
−275 
269 
425
−3 675 
2 938 
3 241
Capital balance
FKMJ
−
−410
−
−
−
−
−
−128
−38
−110
−134
Financial account
Direct investment
HJYV
1
−32 825
612 
1
−
−
−
−10 414
6 904
−7 173
−22 142
Portfolio investment
HHZD
14 723
932 
1 942
−2 195 
1 711 
7 531 
7 676 
4 769
−1 951
−4 976 
3 090
Financial derivatives
ZPNN
−86 175
14 654
5 581
−33 949
−29 234
2 769
−25 761
−11 825
3 777 
4 557 
18 145
Other investment
HHYR
82 080
12 611
−5 306 
28 941 
31 201 
2 503 
19 435 
6 016
−4 757 
10 481 
871
Reser 
ve assets
LTCV
−
−
−
−
−
−
−
−
−
−
 −
Net financial transactions
HBNT
10 629
−4 628 
2 829
−7 202 
3 678 
12 803 
1 350
−11 454
3 973 
2 889
−36
Net errors and omissions1
HHDH
−8 828 
2 109
−2 735 
8 300
−2 981
−12 528
−1 619 
11 157
−260
−5 717
−3 071

1 This series represents net errors and omissions in the balance of payments accounts. It is the converse of the not seasonally adjusted current and capital balances (HBOG and FKMJ) and net financial account transactions (HB- NT) and is required to balance these three accounts.

£ million
2008 
2009
2007 
2008 
2008
2008 
2008
2009 
2009
2009 
2009
Q4 
Q1 
Q2
Q3 
Q4
Q1 
Q2
Q3 
Q4
Credits
Expor 
ts of goods and services
Expor 
ts of goods
BOKG
443
−133
−
133 
57
71 
182
19
−44 
10
−118
Expor 
ts of services
IKBB
61
−2 057 
598
−145
−38 
1
243
−783
−750
−485
−39
Total expor 
ts of goods and services
IKBH
504
−2 190 
598
−12 
19
72 
425
−764
−794
−475
−157
Income
Compensation of employees
IJAH
1
−
2
−11
−2
11
3
−3
−
2
1
Investment income
HBOK
945
−1 527 
1 167
−637 
289
1 721
−428 
724
−1 223 
3 076
−4 104
Total income
HBOH
946
−1 527 
1 169
−648 
287
1 732
−425 
721
−1 223 
3 078
−4 103
Current transfers
Central government
FHDM
31
−
112
−81
−104
−116 
332
19 
1
−7
−13
Other sectors
FHIB
−42
−375 
9
75
−50
−74 
7
12
−5
−125
−257
Total current transfers
IKBN
−11
−375 
121
−6
−154
−190 
339
31
−4
−132
−270
Total
HBON
1 439
−4 092 
1 888
−666 
152
1 614 
339
−12
−2 021 
2 471
−4 530
Debits
Impor 
ts of goods and services
Impor 
ts of goods
BOKH
178
−48
−
88 
26
42 
22
−83 
77
15
−57
Impor 
ts of services
IKBC
−153
−2 596 
153
−129 
37
−96 
35
−763
−680
−421
−732
Total imports of goods and services
IKBI
25
−2 644 
153
−41 
63
−54 
57
−846
−603
−406
−789
Income
Compensation of employees
IJAI
2
−
−
1
−
−
1
−
−
−
−
Investment income
HBOL
3 202
−4 153 
781
163 
676
1 342 
1 021 
156
1 541
−130
−5 720
Total income
HBOI
3 204
−4 153 
781
164 
676
1 342 
1 022 
156
1 541
−130
−5 720
Current transfers
Central government
FLUD
12
−4
28
−27 
34
6
−1
−2
−40 
35
3
Other sectors
FLUZ
−1
−220 
83
33
−85
−73 
124
44
−12
−23
−229
Total current transfers
IKBO
11
−224 
111
6
−51
−67 
123
42
−52 
12
−226
Total
HBOO
3 240
−7 021 
1 045 
129 
688
1 221 
1 202
−648 
886
−524
−6 735
Balances
Tr 
ade in goods and services
Tr 
ade in goods
BOKI
265
−85
−
45 
31
29 
160
102
−121
−5
−61
Tr 
ade in services
IKBD
214 
539
445
−16
−75 
97
208
−20
−70
−64 
693
Total trade in goods and services
IKBJ
479 
454
445 
29
−44 
126
368 
82
−191
−69 
632
Income
Compensation of employees
IJAJ
−1
−
2
−12
−2
11
2
−3
−
2
1
Investment income
HBOM
−2 257 
2 626 
386
−800
−387 
379
−1 449 
568
−2 764 
3 206 
1 616
Total income
HBOJ
−2 258 
2 626 
388
−812
−389 
390
−1 447 
565
−2 764 
3 208 
1 617
Current transfers
Central government
FNSV
19 
4
84
−54
−138
−122 
333
21 
41
−42
−16
Other sectors
FNTC
−41
−155
−74 
42 
35
−1
−117
−32 
7
−102
−28
Total current transfers
IKBP
−22
−151 
10
−12
−103
−123 
216
−11 
48
−144
−44
Current balance
HBOP
−1 801 
2 929 
843
−795
−536 
393
−863 
636
−2 907 
2 995 
2 205
Balances as a percentage of GDP1
Tr 
ade in goods and services
Tr 
ade in goods
D28J
−
−
0.1
−
−
 −
−
0.1
−0.1
−
−
Tr 
ade in services
D28K
−
0.1 
0.1
−
−
 −
−
−
 −
−
0.2
Total trade in goods and services
D28L
−
−
0.2
−
−
 −
0.1
−
−
−
0.2
Total income
D28M
−0.2 
0.1
−
−0.2
−0.1 
0.1
−0.4 
0.2
−0.8 
0.9
0.5
Total current transfers
D28N
−
−0.1 
0.1
−
−
 −
−
−
 −
−
−0.1
Current balance as percentage of GDP
AA6H
−0.1 
0.2
0.3
−0.2
−0.2 
0.1
−0.3 
0.2
−0.9 
0.9
0.6

1 Using series YBHA: GDP at current market prices

## Revisions To International Investment Since Last Balance Of Payments Statistical Bulletin Not Seasonally Adjusted £Billion

2008 
2009 
2007 
2008 
2008 
2008 
2008 
2009 
2009 
2009 
2009
Q4 
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4
Investment abroad
Inter 
national Investment Position
Direct investment
HBWD
−4.2 
4.5
−14.1
−9.1
−7.5
−5.9
−4.2 
5.7
−4.2
−
4.5
Portfolio investment
HHZZ
−
11.1 
3.5
−
−
−
−
−0.5 
0.5 
6.1
11.1
Financial derivatives
JX96
4 040.2 
2 201.5 
1 378.1 
2 070.9 
2 063.7 
2 176.0 
4 040.2 
3 908.1 
2 581.7 
2 606.1 
2 201.5
Other investment
HLXV
−23.0
−31.6
−5.7
−22.7
−22.4
−22.4
−23.0
−20.4
−21.4
−35.9
−31.6
Reser 
ve assets
LTEB
−
−
−
−
−
−
−
−
−
−
−
Total
HBQA
4 013.0 
2 185.5 
1 361.8 
2 039.1 
2 033.7 
2 147.7 
4 013.0 
3 893.0 
2 556.5 
2 576.4 
2 185.5
Financial Account transactions
Direct investment
-HJYP
−
18.2
−1.2
−
−
−
−
2.1
−5.7 
7.5
14.4
Portfolio investment
-HHZC
−
−0.3
−
−
−
−
−
0.1 
1.2 
1.1
−2.8
Financial derivatives (net)
-ZPNN
86.2
−14.7
−5.6 
33.9 
29.2
−2.7 
25.8 
11.8
−3.7
−4.6
−18.2
Other investment
-XBMM
13.3
−0.8
−3.4
−6.1 
0.2
−0.1 
19.3
4.9 
2.8
−0.9
−7.7
Reser 
ve assets
-LTCV
−
−
−
−
−
−
−
−
−
−
−
Total
-HBNR
99.5 
2.5
−10.2 
27.9 
29.4
−2.9 
45.0 
18.8
−5.4 
3.1
−14.0
Investment income earnings
Direct investment
HJYW
−
−4.4 
0.3
−
−
−
−
−0.1
−2.5 
2.4
−4.1
Portfolio investment
HLYX
0.1
−0.1
−
−
−
−
−
−
0.1 
0.1
−0.1
Other investment
AIOP
0.9 
2.9
−0.2
−0.9
−0.1 
0.7 
1.1 
0.6 
0.9 
0.8 
0.7
Reser 
ve assets
HHCB
−
−
−
−
−
−
−
−
−
−
−
Total
HMBN
1.0
−1.6 
0.2
−0.8
−0.1 
0.8 
1.1 
0.6
−1.6 
3.1
−3.6
Investment in the UK
Inter 
national Investment Position
Direct investment
HBWI
−3.8
−22.9
−16.4
−5.9
−5.1
−4.5
−3.8
−11.8
−11.2
−13.3
−22.9
Portfolio investment
HLXW
32.8 
48.4 
28.4 
10.7 
12.8 
20.7 
32.8 
39.0 
40.8 
38.7 
48.4
Financial derivatives
JX97
3 915.3 
2 121.9 
1 392.2 
2 014.8 
1 993.8 
2 109.1 
3 915.3 
3 770.0 
2 462.0 
2 500.5 
2 121.9
Other investment
HLYD
111.0 
130.6
−1.8 
35.4 
66.9 
69.3
111.0 
129.5 
126.7 
136.8 
130.6
Total
HBQB
4 055.3 
2 277.9 
1 402.4 
2 055.1 
2 068.2 
2 194.7 
4 055.3 
3 926.6 
2 618.2 
2 662.7 
2 277.9
Financial Account transactions
Direct investment
HJYU
−
−14.5
−0.6
−
−
−
−
−8.3 
1.3 
0.3
−7.7
Portfolio investment
HHZF
14.7 
0.7 
1.9
−2.2 
1.7 
7.6 
7.6 
4.9
−0.7
−3.8 
0.3
Other investment
XBMN
95.4 
11.8
−8.7 
22.9 
31.4
2.4 
38.7 
10.9
−2.0 
9.5
−6.8
Total
HBNS
110.1
−2.1
−7.4 
20.6 
33.1
9.9 
46.4
7.4
−1.4 
6.0
−14.1
Investment income
Direct investment
HJYX
−
−6.7 
0.2
−
−
0.1
−
−0.4 
1.0
−0.7
−6.5
Portfolio investment
HLZC
0.4 
0.7 
0.2 
0.1 
0.1 
0.1 
0.1 
0.2 
0.2 
0.1 
0.2
Other investment
HLZN
2.7 
1.9 
0.4 
0.2 
0.7 
1.0 
0.9 
0.5 
0.7 
0.4 
0.3
Total
HMBO
3.2
−4.1 
0.6 
0.4 
0.8 
1.0 
1.0 
0.3 
1.8
−0.2
−6.0
Net investment
Inter 
national Investment Position
Direct investment
HBWQ
−0.5 
27.5
2.1
−3.2
−2.4
−1.4
−0.5 
17.6
7.0 
13.4 
27.5
Portfolio investment
CGNH
−32.7
−37.3
−24.9
−10.6
−12.7
−20.6
−32.7
−39.5
−40.3
−32.6
−37.3
Financial derivatives
JX98
124.9 
79.6
−14.1 
56.1 
69.9 
66.9
124.9 
138.1 
119.7 
105.6
79.6
Other investment
CGNG
−134.0
−162.2
−3.8
−58.0
−89.3
−91.7
−134.0
−149.9
−148.1
−172.7
−162.2
Reser 
ve assets
LTEB
−
−
−
−
−
−
−
−
−
−
−
Net investment
HBQC
−42.3
−92.4
−40.7
−15.9
−34.4
−46.9
−42.3
−33.7
−61.7
−86.2
−92.4
Financial Accounts transactions
Direct investment
HJYV
−
−32.9 
0.6
−
−
−
−
−10.4 
6.9
−7.2
−22.2
Portfolio investment
HHZD
14.7 
0.9 
1.9
−2.2 
1.7 
7.5 
7.7 
4.8
−1.9
−4.9 
3.1
Financial derivatives
ZPNN
−86.2 
14.7
5.6
−33.9
−29.2 
2.7
−25.8
−11.8 
3.7 
4.6
18.2
Other investment
HHYR
82.1 
12.6
−5.3 
28.9 
31.2
2.5 
19.4
6.0
−4.8 
10.5
0.9
Reser 
ve assets
LTCV
−
−
−
−
−
−
−
−
−
−
−
Net transactions
HBNT
10.6
−4.6 
2.8
−7.3 
3.6
12.8 
1.3
−11.5 
4.0 
2.9
−
Investment income earnings
Direct investment
HJYE
−0.1 
2.3 
0.2
−
−
−
−
0.4
−3.5 
3.1 
2.3
Portfolio investment
HLZX
−0.3
−0.8
−0.1
−0.1
−0.1
−0.1
−0.2
−0.2
−0.1
−0.1
−0.3
Other investment
CGNA
−1.8 
1.0
−0.5
−1.1
−0.7
−0.2 
0.2 
0.1 
0.3 
0.4 
0.3
Reser 
ve assets
HHCB
−
−
−
−
−
−
−
−
−
−
−
Net earnings
HMBM
−2.2 
2.7
−0.4
−1.2
−0.8
−0.3
−
0.2
−3.4 
3.4 
2.4

 
................................................................................................................................................................ 

 
Next publication: 28 September 2010 Issued by: Office for National Statistics, Government Buildings, Cardiff Road, Newport NP10 8XG 
 

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