The UK’s current account deficit was larger than expected in the final quarter of last year, official figures have shown.
The deficit in the three months to December was £22.4bn, only marginally lower than the all-time high of £22.8bn recorded in the previous quarter.
Economists had expected the UK’s deficit to narrow to about £14bn in the final three months of the year.
One analyst described the deficit as “worryingly large”.
The current account deficit for the year was £71.1bn, equal to 4.4% of UK GDP and slightly lower than the highest current account deficit of 4.6% of GDP recorded in 1989, the Office for National Statistics (ONS) said.