uk balance of payments 1955 · uk balance of payments from 1955 “things going well! send more...

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The Saturday Economist with Professor Milton Keynes ........... The Saturday Economist .com UK Balance of Payments from 1955 … … things going well, send more money.

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Page 1: UK Balance of Payments 1955 · 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

The Saturday Economistwith Professor Milton Keynes ...........

The Saturday Economist .com

UK Balance of Payments from 1955 …

… things going well, send more money.

Page 2: UK Balance of Payments 1955 · 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

-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

Page 3: UK Balance of Payments 1955 · 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

-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

Page 4: UK Balance of Payments 1955 · 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

-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

Page 5: UK Balance of Payments 1955 · 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

-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

Page 6: UK Balance of Payments 1955 · 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

-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

Page 7: UK Balance of Payments 1955 · 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

-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

Page 8: UK Balance of Payments 1955 · 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

-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

Page 9: UK Balance of Payments 1955 · 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

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 2010BOP:Balance:SA:Total Trade in Goods BOKI

Chart 8 Balance Total Trade in Goods £ millions

Page 10: UK Balance of Payments 1955 · 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

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

Page 11: UK Balance of Payments 1955 · 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

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

Page 12: UK Balance of Payments 1955 · 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

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

Page 13: UK Balance of Payments 1955 · 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

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

Page 14: UK Balance of Payments 1955 · 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

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]

Page 15: UK Balance of Payments 1955 · 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

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

Page 16: UK Balance of Payments 1955 · 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

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

%

Page 17: UK Balance of Payments 1955 · 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

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

Page 18: UK Balance of Payments 1955 · 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

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

Page 19: UK Balance of Payments 1955 · 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

The Saturday Economistwith Professor Milton Keynes ...........

The Saturday Economist .com

UK Balance of Payments from 1955 …

… things going well, send more money.