Since 1980, Europe's largest economies have consistently been France, Germany, Italy, Spain, and the United Kingdom, although the former Soviet Union's economy was the largest in the 1980s, and Russia's economy has been larger than Spain's since 2010. Since Soviet dissolution, Germany has always had the largest economy in Europe, while either France or the UK has had the second largest economy depending on the year. Italy's economy was of a relatively similar size to that of the UK and France until the mid 2000s when it started to diverge, resulting in a difference of approximately 800 billion U.S dollars by 2018. Russia's economy had overtaken both Italy and Spain's in 2012, but has fallen since 2014 due to the drop in international oil prices and the economic sanctions imposed for its annexation of Crimea - economic growth is expected to be comparatively low in Russia in the coming years due to the economic fallout of its invasion of Ukraine in 2022.

The gross domestic product of the United Kingdom was around 2.56 trillion British pounds, an increase when compared to the previous year, when UK GDP amounted to about 2.54 trillion pounds. The significant drop in GDP visible in 2020 was due to the COVID-19 pandemic, with the smaller declines in 2008 and 2009 because of the global financial crisis of the late 2000s. Low growth problem in the UK Despite growing by 0.9 percent in 2024, and 0.4 percent in 2023 the UK economy is not that much larger than it was before the COVID-19 pandemic. Since recovering from a huge fall in GDP in the second quarter of 2020, the UK economy has alternated between periods of contraction and low growth, with the UK even in a recession at the end of 2023. While economic growth picked up somewhat in 2024, GDP per capita is lower than it was in 2022, following two years of negative growth. How big is the UK economy in relation to the rest of the world? As of 2024, the UK had the sixth-largest economy in the world, behind the United States, China, Japan, Germany, and India. Among European nations, this meant that the UK currently has the second-largest economy in Europe, although the economy of France, Europe's third-largest economy, is of a similar size. The UK's global economic ranking will likely fall in the coming years, however, with the UK's share of global GDP expected to fall from 2.16 percent in 2025 to 2.02 percent by 2029.  

In 2022, London had a gross domestic product of over 508 billion British pounds, by far the most of any region of the United Kingdom. The region of South East England which surrounds London had the second-highest GDP in this year, at over 341 billion pounds. North West England, which includes the major cities of Manchester and Liverpool, had the third-largest GDP among UK regions, at approximately 223.5 billion pounds. Levelling Up the UK London’s economic dominance of the UK can clearly be seen when compared to the other regions of the country. In terms of GDP per capita, the gap between London and the rest of the country is striking, standing at 57,338 pounds per person in the UK capital, compared with just over 33,593 pounds in the rest of the country. To address the economic imbalance, successive UK governments have tried to implement "levelling-up policies", which aim to boost investment and productivity in neglected areas of the country. The success of these programs going forward may depend on their scale, as it will likely take high levels of investment to reverse economic neglect regions have faced in the recent past. Overall UK GDP The gross domestic product for the whole of the United Kingdom amounted to 2.56 trillion British pounds in 2024. During this year, GDP grew by 0.9 percent, following a growth rate of 0.4 percent in 2023. Due to the overall population of the UK growing faster than the economy, however, GDP per capita in the UK fell in both 2023 and 2024. Nevertheless, the UK remains one of the world’s biggest economies, with just five countries (the United States, China, Japan, Germany, and India) having larger economies. It is it likely that several other countries will overtake the UK economy in the coming years, with Indonesia, Brazil, Russia, and Mexico all expected to have larger economies than Britain by 2050.

The Gross Domestic Product (GDP) in the United Kingdom was worth 3380.85 billion US dollars in 2023, according to official data from the World Bank. The GDP value of the United Kingdom represents 3.21 percent of the world economy. This dataset provides the latest reported value for - United Kingdom GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

With a Gross Domestic Product of over 4.18 trillion Euros, the German economy was by far the largest in Europe in 2023. The similar-sized economies of the United Kingdom and France were the second and third largest economies in Europe during this year, followed by Italy and Spain. The smallest economy in this statistic is that of the small Balkan nation of Montenegro, which had a GDP of 5.7 billion Euros. In this year, the combined GDP of the 27 member states that compose the European Union amounted to approximately 17.1 trillion Euros. The big five Germany’s economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. The United Kingdom, by contrast, has had mixed fortunes during the same time period and had a smaller economy than Italy in the late 1980s. The UK also suffered more than the other major economies during the recession of the late 2000s, meaning the French economy was the second largest on the continent for some time afterward. The Spanish economy was continually the fifth-largest in Europe in this 38-year period, and from 2004 onwards, has been worth more than one trillion Euros. The smallest GDP, the highest economic growth in Europe Despite having the smallerst GDP of Europe, Montenegro emerged as the fastest growing economy in the continent, achieving an impressive annual growth rate of 4.5 percent, surpassing Turkey's growth rate of 4 percent. Overall,this Balkan nation has shown a remarkable economic recovery since the 2010 financial crisis, with its GDP projected to grow by 28.71 percent between 2024 and 2029. Contributing to this positive trend are successful tourism seasons in recent years, along with increased private consumption and rising imports. Europe's economic stagnation Malta, Albania, Iceland, and Croatia were among the countries reporting some of the highest growth rates this year. However, Europe's overall performance reflected a general slowdown in growth compared to the trend seen in 2021, during the post-pandemic recovery. Estonia experienced the sharpest negative growth in 2023, with its economy shrinking by 2.3% compared to 2022, primarily due to the negative impact of sanctions placed on its large neighbor, Russia. Other nations, including Sweden, Germany, and Finland, also recorded slight negative growth.

In 1938, the year before the Second World War, the United States had, by far, the largest economy in the world in terms of gross domestic product (GDP). The five Allied Great Powers that emerged victorious from the war, along with the three Axis Tripartite Pact countries that were ultimately defeated made up the eight largest independent economies in 1938.

When values are converted into 1990 international dollars, the U.S. GDP was over 800 billion dollars in 1938, which was more than double that of the second largest economy, the Soviet Union. Even the combined economies of the UK, its dominions, and colonies had a value of just over 680 billion 1990 dollars, showing that the United States had established itself as the world's leading economy during the interwar period (despite the Great Depression).

Interestingly, the British and Dutch colonies had larger combined GDPs than their respective metropoles, which was a key motivator for the Japanese invasion of these territories in East Asia during the war. Trade with neutral and non-belligerent countries also contributed greatly to the economic development of Allied and Axis powers throughout the war; for example, natural resources from Latin America were essential to the American war effort, while German manufacturing was often dependent on Swedish iron supplies.

The statistic shows the growth rate in the real GDP in the United Kingdom from 2019 to 2023, with projections up until 2029. In 2023, the rate of GDP growth in the United Kingdom was at around 0.34 percent compared to the previous year.The economy of the United KingdomGDP is used an indicator as to the shape of a national economy. It is one of the most regularly called upon measurements regarding the economic fitness of a country. GDP is the total market value of all final goods and services that have been produced in a country within a given period of time, usually a year. Inflation adjusted real GDP figures serve as an even more telling indication of a country’s economic state in that they act as a more reliable and clear tool as to a nation’s economic health. The gross domestic product (GDP) growth rate in the United Kingdom has started to level in recent years after taking a huge body blow in the financial collapse of 2008. The UK managed to rise from the state of dark desperation it was in between 2009 and 2010, from -3.97 to 1.8 percent. The country suffered acutely from the collapse of the banking industry, raising a number of questions within the UK with regards to the country’s heavy reliance on revenues coming from London's financial sector, arguably the most important in the world and one of the globe’s financial command centers. Since the collapse of the post-war consensus and the rise of Thatcherism, the United Kingdom has been swept along in a wave of individualism - collective ideals have been abandoned and the mass privatisation of the heavy industries was unveiled - opening them up to market competition and shifting the economic focus to that of service.The Big Bang policy, one of the cornerstones of the Thatcher government programs of reform, involved mass and sudden deregulation of financial markets. This led to huge changes in the way the financial markets in London work, and saw the many old firms being absorbed by big banks. This, one could argue, strengthened the UK financial sector greatly and while frivolous and dangerous practices brought the sector into great disrepute, the city of London alone brings in around one fifth of the countries national income making it a very prominent contributor to wealth in the UK.

The economy was seen by 51 percent of people in the UK as one of the top three issues facing the country in March 2025. The ongoing cost of living crisis afflicting the UK, driven by high inflation, is still one of the main concerns of Britons. Health has generally been the second most important issue since early 2022, possibly due to NHS staffing problems, and increasing demand for health services, which have plunged the National Health Service into a deep crisis. From late 2022 onwards, immigration emerged as the third main concern for British people, just ahead of the environment for much of 2023 and as of the most recent month, the second most important issue for voters. Labour's popularity continues to sink in 2025 Despite winning the 2024 general election with a strong majority, the new Labour government has had its share of struggles since coming to power. Shortly after taking office, the approval rating for Labour stood at -2 percent, but this fell throughout the second half of 2024, and by January 2025 had sunk to a new low of -47 percent. Although this was still higher than the previous government's last approval rating of -56 percent, it is nevertheless a severe review from the electorate. Among several decisions from the government, arguably the least popular was the government withdrawing winter fuel payments. This state benefit, previously paid to all pensioners, is now only paid to those on low incomes, with millions of pensioners not receiving this payment in winter 2024. Sunak's pledges fail to prevent defeat in 2024 With an election on the horizon, and the Labour Party consistently ahead in the polls, addressing voter concerns directly was one of the best chances the Conservatives had of staying in power in 2023. At the start of that year, Rishi Sunak attempted to do this by setting out his five pledges for the next twelve months; halve inflation, grow the economy, reduce national debt, cut NHS waiting times, and stop small boats. A year later, Sunak had at best only partial success in these aims. Although the inflation rate fell, economic growth was weak and even declined in the last two quarters of 2023, although it did return to growth in early 2024. National debt was only expected to fall in the mid to late 2020s, while the trend of increasing NHS waiting times did not reverse. Small boat crossings were down from 2022, but still higher than in 2021 or 2020. .

The United Kingdom's economy grew by 0.9 percent in 2024, after a growth rate of 0.4 percent in 2023, 4.8 percent in 2022, 8.6 percent in 2021, and a record 10.3 percent fall in 2020. During the provided time period, the biggest annual fall in gross domestic product before 2020 occurred in 2009, when the UK economy contracted by 4.6 percent at the height of the global financial crisis of the late 2000s. Before 2021, the year with the highest annual GDP growth rate was 1973, when the UK economy grew by 6.5 percent. UK economy growing but GDP per capita falling In 2022, the UK's GDP per capita amounted to approximately 37,371 pounds, with this falling to 37,028 pounds in 2023, and 36,977 pounds in 2024. While the UK economy as a whole grew during this time, the UK's population grew at a faster rate, resulting in the negative growth in GDP per capita. This suggests the UK economy's struggles with productivity are not only stagnating, but getting worse. The relatively poor economic performance of the UK in recent years has not gone unnoticed by the electorate, with the economy consistently seen as the most important issue for voters since 2022. Recent shocks to UK economy In the second quarter of 2020, the UK economy shrank by a record 20.3 percent at the height of the COVID-19 pandemic. Although there was a relatively swift economic recovery initially, the economy has struggled to grow much beyond its pre-pandemic size, and was only around 3.1 percent larger in December 2024, when compared with December 2019. Although the labor market has generally been quite resilient during this time, a long twenty-month period between 2021 and 2023 saw prices rise faster than wages, and inflation surge to a high of 11.1 percent in October 2022.

Abstract

The Labour Force Survey (LFS) is a study of the employment circumstances of the UK population. It is the largest household study in the UK and provides the official measures of employment and unemployment.The first Labour Force Survey (LFS) in the United Kingdom was conducted in 1973, under the terms of a Regulation derived from the Treaty of Rome. The provision of information for the Statistical Office of the European Communities (SOEC) continued to be one of the reasons for carrying out the survey on an annual basis. SOEC co-ordinated information from labour force surveys in the member states in order to assist the EC in such matters as the allocation of the Social Fund. The survey was carried out biennially from 1973 to 1983 and was increasingly used by UK government departments to obtain information which would assist in the framing of social and economic policy. By 1983 it was being used by the Employment Department (now the Department for Work and Pensions) to obtain information which was not available from other sources or was only available for Census years. From 1984 the survey was carried out annually, and since that time the LFS has consisted of two elements:

• a quarterly survey conducted in Great Britain throughout the year, in which each sampled address was called on five times at quarterly intervals, and which yielded about 15,000 responding households in every quarter;
• a 'boost' survey in the spring quarter (March-May), which produced interviews at over 44,000 households in Great Britain and over 4,000 households in Northern Ireland.

Users should note that only the data from the spring quarter and the 'boost' survey were included in the annual datasets for public release, and that only data from 1975-1991 are available from the UK Data Archive. The depositor recommends only considered use of data for 1975 and 1977 (SNs 1757 and 1758), as the concepts behind the definitions of economic activity changed and are not comparable with later years. Also the survey methodology was being developed at the time and so the estimates may not be reliable enough to use.

During 1991 the survey was developed, so that from spring 1992 the data were made available quarterly, with a quarterly sample size approximately equivalent to that of the previous annual data. The Quarterly Labour Force Survey series therefore superseded the annual LFS series, and is held at the Data Archive under GN 33246.

The study is being conducted by the Office for National Statistics (ONS), the government's largest producer of statistics. They compile independent information about the UK's society and economy which provides evidence for policy and decision making, and for directing resources to where they are needed most. The ten-yearly census, measures of inflation, the National Accounts, and population and migration statistics are some of our highest-profile outputs.

Geographic coverage

The whole country.

Analysis unit

• Individuals
• Families/households

Universe

• Households
• All persons normally resident in private households in the United Kingdom

Kind of data

Sample survey data [ssd]

Sampling procedure

Stratified multi-stage sample; for further details see annual reports. Until 1983 two sampling frames were used; in England, Northern Ireland and Wales, the Valuation Roll provided the basis for a sample which, in England and Wales, included all 69 metropolitan districts, and a two-stage selection from among the remaining non-metropolitan districts. In Northern Ireland wards were the primary sampling units. In Scotland, the Address File (i.e. post codes) was used as the basis for a stratified sample.From 1983 the Postoffice Address File has been used instead of the Valuation Roll in England and Wales. In 1984 sample rotation was introduced along with a panel element, the quarterly survey, which uses a two-stage clustered sample design.

Sampling deviation

One of the limitations of the LFS is that the sample design provides no guarantee of adequate coverage of any industry, as the survey is not industrially stratified. The LFS coverage also omits communal establishments, except NHS housing, students in halls of residence and at boarding schools. Members of the armed forces are only included if they live in private accommodation. Also, workers under 16 are not covered.

Mode of data collection

Face-to-face [f2f]

Research instrument

All questions in the specification are laid out using the same format. Some questions (for instance USUWRKM) have a main group routed to them, but subsets of this group are asked variations of the question. In such cases the main routing is at the foot of the question as usual, and the subsets are listed separately above it, with the individual aspect of the routing indented slightly from the left of the page.

Response rate

Method of calculating response rates The response rate indicates how many interviews were achieved as a proportion of those eligible for the survey. The formula used is as follows: RR = (FR + PR)/(FR + PR + OR + CR + RHQ + NC + RRI*) where RR = response rate, FR = full response, PR = partial response, OR = outright refusal, CR = circumstantial refusal, RHQ = refusal to HQ, NC = non contact, RRI = refusal to re-interview, *applies to waves two to five only.

Sampling error estimates

As with any sample survey, the results of the Labour Force Survey are subject to sampling errors. In addition, the results of any sample survey are affected by non-sampling errors, i.e. the whole variety of errors other then those due to sampling.

United Kingdom E Commerce: 1000+ Employees data was reported at 92.200 % in 2016. This records an increase from the previous number of 87.300 % for 2015. United Kingdom E Commerce: 1000+ Employees data is updated yearly, averaging 85.000 % from Dec 2012 (Median) to 2016, with 5 observations. The data reached an all-time high of 92.200 % in 2016 and a record low of 81.100 % in 2012. United Kingdom E Commerce: 1000+ Employees data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.S039: E Commerce: Proportion of Businesses Using Social Media: By Size of Business.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

With the world population growth, energy consumption and the rapid development of industrial economy, a large amount of carbon emissions has brought destruction and threats to the earth’s environment on which human beings depend. The development of low-carbon economy has become the consensus of governments all over the world and has been vigorously advocated & promoted. This paper focuses on the top five global GDP nations in 2022: The United States, China, Japan, Germany, and Britain. A comprehensive evaluation index system of urban low-carbon economic development level is constructed from four dimensions: economic development level, environmental quality, energy consumption emission intensity and social development speed by using literature review and field interview. The evaluation measures are determined using the TOPSIS evaluation method with entropy weight and the grey relational model, providing a comprehensive assessment of the low-carbon economy’s development level in these five countries." Judging from the comprehensive evaluation score, the overall development of low-carbon economy in American cities is in good condition and has reached the development standard of low-carbon economy; Germany and Japan rank second and third, and they are low-carbon economies. Britain ranks fourth in comprehensive evaluation, although it belongs to a low-carbon economy country, but there is still a certain gap with Germany and Japan; There is still a big gap between China and the other four countries. Based on the measurement and evaluation outcomes, it presents recommendations and strategies to foster the growth of low-carbon economies, offering valuable insights for the advancement of such economies across different nations. The research results guide countries all over the world to reduce carbon emissions in the process of economic development, protect the earth environment on which human beings depend, and make a better tomorrow for sustainable development.

United Kingdom E Commerce: Wiki Based Knowledge Sharing: 1000+ Emp data was reported at 27.200 % in 2016. This records an increase from the previous number of 24.700 % for 2015. United Kingdom E Commerce: Wiki Based Knowledge Sharing: 1000+ Emp data is updated yearly, averaging 26.300 % from Dec 2012 (Median) to 2016, with 5 observations. The data reached an all-time high of 27.200 % in 2016 and a record low of 23.300 % in 2014. United Kingdom E Commerce: Wiki Based Knowledge Sharing: 1000+ Emp data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.S039: E Commerce: Proportion of Businesses Using Social Media: By Size of Business.

In May 2024, output in UK construction grew by 1.9 percent, with services growing by 0.3 percent, while production output and agriculture output both grew by 0.2 percent.

Throughout the Second World War, the United States consistently had the largest gross domestic product (GDP) in the world. Additionally, U.S. GDP grew significantly throughout the war, whereas the economies of Europe and Japan saw relatively little growth, and were often in decline. The impact of key events in the war is also reflected in the trends shown here - the economic declines of France and the Soviet Union coincide with the years of German invasion, while the economies of the three Axis countries experienced their largest declines in the final year of the war.

In 2024, gross domestic product per capita in the United Kingdom was 36,977 British pounds, compared with 37,028 pounds in the previous year. This was the second-consecutive year that GDP per head has fallen in the UK, with the measure shrinking by 0.9 percent in 2023. In general, while GDP per capita has grown quite consistently throughout this period, there are noticeable declines, especially between 2007 and 2009, and between 2019 and 2020, due to the Global Financial Crisis, and COVID-19 pandemic, respectively. Why is GDP per capita falling when the economy is growing? During the last two years that GDP per capita fell in the UK, the overall economy grew by 0.4 percent in 2023 and 0.9 percent in 2024. While the overall UK economy is therefore larger than it was in 2022, the UK's population has grown at a faster rate, resulting in the lower GDP per capita figure. The long-term slump in the UK's productivity, as measured by output per hour worked, has meant that the gap between GDP growth and GDP per capita growth has been widening for some time. Economy remains the main concern of UK voters As of February 2025, the economy was seen as the main issue facing the UK, just ahead of immigration, health, and several other problems in the country. While Brexit was seen as the most important issue before COVID-19, and concerns about health were dominant throughout 2020 and 2021, the economy has generally been the primary facing voters issue since 2022. The surge in inflation throughout 2022 and 2023, and the impact this had on wages and living standards, resulted in a very tough period for UK households. As of January 2025, 57 percent of households were still noticing rising living costs, although this is down from a peak of 91 percent in August 2022.

The statistic shows GDP per capita in the United Kingdom from 1987 to 2020, with projections up until 2029. In 2020, GDP per capita in the United Kingdom was at around 40,230.55 US dollars. The same year, the total UK population amounted to about 67.26 million people. The United Kingdom is among the leading countries in a world GDP ranking.Falling unemployment in a time of recessionGDP is a useful indicator when it comes to measuring the state of a nation’s economy. GDP is the market value of all final goods and services produced within a country in a given period of time, usually a year. GDP per capita equals exactly the GDI (gross domestic income) per capita and is not a measure of an individual’s personal income.As can be seen clearly in the statistic, gross domestic product (GDP) per capita in the United Kingdom is beginning to increase, albeit not to pre-recession levels. The UK is beginning to see signs of an economic recovery, though as of yet it remains unclear what sort of recovery this is. Questions have been raised as to whether the growth being seen is the right sort of growth for a well balanced recovery across the necessary sectors. An interesting oddity occurred in the United Kingdom for nine months in 2012, which saw a decreasing unemployment occurring at the same time as dip in nationwide economic productivity. This seems like good - if not unusual - news, but could be indicative of people entering part-time employment. It could also suggest that labor productivity is falling, meaning that the UK would be less competitive as a nation. The figures continue to rise, however, with an increase in employment in the private sector. With the rate of inflation in the UK impacting everyone’s daily lives, it is becoming increasingly difficult for vulnerable groups to maintain a decent standard of living.

The city of Paris in France had an estimated gross domestic product of 757.6 billion Euros in 2021, the most of any European city. Paris was followed by the spanish capital, Madrid, which had a GDP of 237.5 billion Euros, and the Irish capital, Dublin at 230 billion Euros. Milan, in the prosperous north of Italy, had a GDP of 228.4 billion Euros, 65 billion euros larger than the Italian capital Rome, and was the largest non-capital city in terms of GDP in Europe. The engine of Europe Among European countries, Germany had by far the largest economy, with a gross domestic product of over 4.18 trillion Euros. The United Kingdom or France have been Europe's second largest economy since the 1980s, depending on the year, with forecasts suggesting France will overtake the UK going into the 2020s. Germany however, has been the biggest European economy for some time, with five cities (Munich, Berlin, Hamburg, Stuttgart and Frankfurt) among the 15 largest European cities by GDP. Europe's largest cities In 2023, Moscow was the largest european city, with a population of nearly 12.7 million. Paris was the largest city in western Europe, with a population of over 11 million, while London was Europe's third-largest city at 9.6 million inhabitants.

A recent analysis on the impact of Brexit suggests that in 2023, the United Kingdom's economy was 2.5 percent smaller than it would have been in a base scenario where the UK never left the EU. The estimated hit to the UK's gross domestic product (GDP) increases to three percent in 2024, and to 3.2 percent by 2025 in this forecast. UK economy starts 2024 strongly As of March 2024, the UK economy is approximately 2.6 percent larger than it was just before the COVID-19 pandemic, which delivered a sudden and severe economic shock to the country in early 2020. While the initial bounce back from this collapse was robust, the recovery slowed by the end of 2020, and it wasn't until late 2021 that the economy returned to its pre-pandemic size. Throughout 2022 and 2023, the economy continued to struggle, and even experienced a recession at the end of 2023. In the first quarter of 2024, however, the UK economy grew by 0.6 percent, the fastest quarterly growth since late 2021, and a potential sign that the UK economy has turned a corner. How voters feel about Brexit in 2024 Since the middle of 2021, a growing majority of voters in Britain have advised that they think Brexit was the wrong decision. As of May 2024, around 55 percent thought it was wrong to leave the EU, compared with just 43 percent in April 2021. By comparison, the share of Britons who think Brexit was the right decision has fallen from 46 percent to 31 percent in the same time period. Voters are, however, still quite divided on what relationship they want with the EU, with only 31 percent supporting rejoining completely. Furthermore, Brexit has fallen behind other issues for voters such as the economy, the NHS, and immigration and will play a much smaller role in the 2024 election than it did in 2019.