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The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955 …
… things going well, send more money.
-8.0%
-7.0%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
BOP:Balance:SA:Total Trade in Goods BOKI *Gross Domestic Product at market prices: Current price: YBHA	

Chart 1 Balance % of GDP* - Total Trade in Goods
-1.0%
-0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Chart 2 Balance % of GDP* - Total Trade in Services
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
Balance of Payments: Trade in Services: Total balance:IKBD	

 *Gross Domestic Product at market prices: Current price: YBHA
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Chart 3 Balance % of GDP* - Total Trade in Goods & Services
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
Balance of Payments: Trade in Goods & Services: Total balance:IKBJ	

 *Gross Domestic Product at market prices: Current price: YBHA
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
1955 1965 1975 1985 1995 2005
Chart 4 Balance % of GDP* - Investment Income Balance
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
BoP Investment Income Balance HBOJ	

 *Gross Domestic Product at market prices: Current price: YBHA
-2.0%
-1.5%
-1.0%
-0.5%
0.0%
0.5%
1.0%
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Chart 5 Balance % of GDP* - Current Account Transfers
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
Current Transfers (BPM5) total balance IKBP	

 *Gross Domestic Product at market prices: Current price: YBHA
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Chart 6 Balance % of GDP* - Current Account Balance
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
BoP Current Account Balance [HBON - HBOO] *Gross Domestic Product at market prices: Current price: YBHA
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
1955 1965 1975 1985 1995 2005
Chart 7 Balance % of GDP* - Capital Account
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
*Gross Domestic Product at market prices: Current price: YBHA	

BoP FA total Net flows HBNT
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
-120,000
-90,000
-60,000
-30,000
0
30,000
1980 1990 2000 2010
BOP:Balance:SA:Total Trade in Goods BOKI
Chart 8 Balance Total Trade in Goods £ millions
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
1980 1990 2000 2010
Chart 9 Balance Total Trade in Services £ millions
Balance of Payments: Trade in Services: Total balance:IKBD
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
-40,000
-30,000
-20,000
-10,000
0
10,000
1980 1990 2000 2010
Chart 10 Balance Total Trade in Goods & Services £ millions
Balance of Payments: Trade in Goods & Services: Total balance:IKBJ
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
-20,000
-10,000
0
10,000
20,000
30,000
40,000
1980 1990 2000 2010
Chart 11 Investment Income Balance £ millions
BoP Investment Income Balance HBOJ
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
-30,000
-20,000
-10,000
0
10,000
1980 1990 2000 2010
Chart 12 Current Transfers £ millions
Current Transfers (BPM5) total balance IKBP
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
-80,000
-70,000
-60,000
-50,000
-40,000
-30,000
-20,000
-10,000
0
10,000
1980 1990 2000 2010
Chart 13 Current Account Balance £ millions
BoP Current Account Balance [HBON - HBOO]
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
-10,000
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
1980 1990 2000 2010
Chart 14 Capital Account Balance £ millions
BoP FA total Net flows NSA _m HBNT
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
Chart 15 Who owns UK Equities?
0
10
20
30
40
50
60
70
1990 1992 1994 1998 2000 2002 2004 2008 2012
Overseas UK Institutions Individuals Misc
Data from “Ownership of UK Quoted Shares 2012” 	

ONS September 2013
UK Institutions Insurance & Pension Funds
Unit Trusts, Investment Trusts
Other Institutions
Misc : Charities, Banks & NFIS
Charities & Public Sector
%
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955
“Things going well!
Send more money”
Chart 16 Who owns UK Gilts?
10%
20%
30%
40%
20002001200220032004200520062007200820092010201120122013
Overseas
Data from “Ownership of UK Quoted Shares 2012” 	

Debt Management Office Q3 2013
75
80
85
90
95
100
105
110
115
120
-7%
-6%
-5%
-4%
-3%
-2%
-1%
0%
1%
2%
1980 1985 1990 1995 2000 2005 2010
The Saturday Economistwith Professor Milton Keynes ...........
UK Balance of Payments from 1955
The Saturday Economist .com
Chart 17 Trade in Goods Deficit and Sterling EER.
EER!
right hand axis
Goods !
Deficit!
left hand axis
The Saturday Economistwith Professor Milton Keynes ...........
The Saturday Economist .com
UK Balance of Payments from 1955 …
… things going well, send more money.

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Uk balance of payments 1955 - message to overseas investors - things going well send more monet

  • 1. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 … … things going well, send more money.
  • 2. -8.0% -7.0% -6.0% -5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” BOP:Balance:SA:Total Trade in Goods BOKI *Gross Domestic Product at market prices: Current price: YBHA Chart 1 Balance % of GDP* - Total Trade in Goods
  • 3. -1.0% -0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Chart 2 Balance % of GDP* - Total Trade in Services The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” Balance of Payments: Trade in Services: Total balance:IKBD *Gross Domestic Product at market prices: Current price: YBHA
  • 4. -5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Chart 3 Balance % of GDP* - Total Trade in Goods & Services The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” Balance of Payments: Trade in Goods & Services: Total balance:IKBJ *Gross Domestic Product at market prices: Current price: YBHA
  • 5. -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 1955 1965 1975 1985 1995 2005 Chart 4 Balance % of GDP* - Investment Income Balance The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” BoP Investment Income Balance HBOJ *Gross Domestic Product at market prices: Current price: YBHA
  • 6. -2.0% -1.5% -1.0% -0.5% 0.0% 0.5% 1.0% 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Chart 5 Balance % of GDP* - Current Account Transfers The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” Current Transfers (BPM5) total balance IKBP *Gross Domestic Product at market prices: Current price: YBHA
  • 7. -5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Chart 6 Balance % of GDP* - Current Account Balance The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” BoP Current Account Balance [HBON - HBOO] *Gross Domestic Product at market prices: Current price: YBHA
  • 8. -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 1955 1965 1975 1985 1995 2005 Chart 7 Balance % of GDP* - Capital Account The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” *Gross Domestic Product at market prices: Current price: YBHA BoP FA total Net flows HBNT
  • 9. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” -120,000 -90,000 -60,000 -30,000 0 30,000 1980 1990 2000 2010 BOP:Balance:SA:Total Trade in Goods BOKI Chart 8 Balance Total Trade in Goods £ millions
  • 10. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 1980 1990 2000 2010 Chart 9 Balance Total Trade in Services £ millions Balance of Payments: Trade in Services: Total balance:IKBD
  • 11. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” -40,000 -30,000 -20,000 -10,000 0 10,000 1980 1990 2000 2010 Chart 10 Balance Total Trade in Goods & Services £ millions Balance of Payments: Trade in Goods & Services: Total balance:IKBJ
  • 12. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” -20,000 -10,000 0 10,000 20,000 30,000 40,000 1980 1990 2000 2010 Chart 11 Investment Income Balance £ millions BoP Investment Income Balance HBOJ
  • 13. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” -30,000 -20,000 -10,000 0 10,000 1980 1990 2000 2010 Chart 12 Current Transfers £ millions Current Transfers (BPM5) total balance IKBP
  • 14. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” -80,000 -70,000 -60,000 -50,000 -40,000 -30,000 -20,000 -10,000 0 10,000 1980 1990 2000 2010 Chart 13 Current Account Balance £ millions BoP Current Account Balance [HBON - HBOO]
  • 15. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” -10,000 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 1980 1990 2000 2010 Chart 14 Capital Account Balance £ millions BoP FA total Net flows NSA _m HBNT
  • 16. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” Chart 15 Who owns UK Equities? 0 10 20 30 40 50 60 70 1990 1992 1994 1998 2000 2002 2004 2008 2012 Overseas UK Institutions Individuals Misc Data from “Ownership of UK Quoted Shares 2012” ONS September 2013 UK Institutions Insurance & Pension Funds Unit Trusts, Investment Trusts Other Institutions Misc : Charities, Banks & NFIS Charities & Public Sector %
  • 17. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 “Things going well! Send more money” Chart 16 Who owns UK Gilts? 10% 20% 30% 40% 20002001200220032004200520062007200820092010201120122013 Overseas Data from “Ownership of UK Quoted Shares 2012” Debt Management Office Q3 2013
  • 18. 75 80 85 90 95 100 105 110 115 120 -7% -6% -5% -4% -3% -2% -1% 0% 1% 2% 1980 1985 1990 1995 2000 2005 2010 The Saturday Economistwith Professor Milton Keynes ........... UK Balance of Payments from 1955 The Saturday Economist .com Chart 17 Trade in Goods Deficit and Sterling EER. EER! right hand axis Goods ! Deficit! left hand axis
  • 19. The Saturday Economistwith Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 … … things going well, send more money.