100+ datasets found
  1. Annual GDP growth in the UK 1949-2024

    • statista.com
    • ai-chatbox.pro
    Updated Jun 30, 2025
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    Statista (2025). Annual GDP growth in the UK 1949-2024 [Dataset]. https://www.statista.com/statistics/281734/gdp-growth-in-the-united-kingdom-uk/
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    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    The United Kingdom's economy grew by 1.1 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.

  2. Forecasts for the UK economy: January 2022

    • gov.uk
    Updated Jan 19, 2022
    + more versions
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    HM Treasury (2022). Forecasts for the UK economy: January 2022 [Dataset]. https://www.gov.uk/government/statistics/forecasts-for-the-uk-economy-january-2022
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    Dataset updated
    Jan 19, 2022
    Dataset provided by
    GOV.UKhttp://gov.uk/
    Authors
    HM Treasury
    Area covered
    United Kingdom
    Description

    Forecasts for the UK economy is a monthly comparison of independent forecasts.

    Please note that this is a summary of published material reflecting the views of the forecasting organisations themselves and does not in any way provide new information on the Treasury’s own views. It contains only a selection of forecasters, which is subject to review.

    No significance should be attached to the inclusion or exclusion of any particular forecasting organisation. HM Treasury accepts no responsibility for the accuracy of material published in this comparison.

    This month’s edition of the forecast comparison contains short-term forecasts for 2021 and 2022.

  3. CPI in the UK 2000-2024

    • statista.com
    Updated Apr 1, 2025
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    Statista Research Department (2025). CPI in the UK 2000-2024 [Dataset]. https://www.statista.com/topics/6500/the-british-economy/
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    Dataset updated
    Apr 1, 2025
    Dataset provided by
    Statistahttp://statista.com/
    Authors
    Statista Research Department
    Area covered
    United Kingdom
    Description

    The Consumer Price Index of the United Kingdom was 136 in the first quarter of 2025, indicating that consumer prices have increased by 36 percent when compared with the first quarter of 2015. As of March 2025, the inflation rate for the CPI was 2.6 percent, a slight fall from the previous month. A long period of elevated inflation between 2021 and 2023 peaked in October 2022, and saw prices increase by over 20 percent in just three years. Uptick in inflation expected in 2025 In late 2024, the UK's main economic forecaster; the Office for Budget Responsibility, predicted that the annual inflation rate for 2025 would average out at around 2.6 percent. In March 2025, however, the OBR revised this figure upward, with annual inflation now expected to be 3.2 percent. This uptick in inflation is predicted to peak in the third quarter of the year at 3.7 percent, before falling to two percent by the second quarter of 2026. Although this period of higher inflation is predicted to be far less severe than in 2022, it will no doubt put further pressure on households already struggling with their cost of living. Cost of living woes continue The share of UK households reporting that their cost of living was increasing has been steadily rising since Summer 2024. At that time, less than half of UK households reported rising costs, down from 91 percent two years earlier. As of March 2025, however, 59 percent of households said their costs were rising, the highest figure since 2023. Of these households, 93 percent reported that their food shop was increasing, with three quarters of them reporting higher energy costs. With higher inflation predicted in 2025, the pressure on UK households will likely continue, although a crisis on the scale of 2021-2023 will hopefully be avoided.

  4. M

    U.K. GDP

    • macrotrends.net
    csv
    Updated May 31, 2025
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    MACROTRENDS (2025). U.K. GDP [Dataset]. https://www.macrotrends.net/global-metrics/countries/gbr/united-kingdom/gdp-gross-domestic-product
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    csvAvailable download formats
    Dataset updated
    May 31, 2025
    Dataset authored and provided by
    MACROTRENDS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Area covered
    United Kingdom
    Description
    U.K. GDP for 2023 was 3.381 trillion US dollars, a 8.57% increase from 2022.
    <ul style='margin-top:20px;'>
    
    <li>U.K. GDP for 2022 was <strong>3.114 trillion US dollars</strong>, a <strong>0.93% decline</strong> from 2021.</li>
    <li>U.K. GDP for 2021 was <strong>3.143 trillion US dollars</strong>, a <strong>16.56% increase</strong> from 2020.</li>
    <li>U.K. GDP for 2020 was <strong>2.697 trillion US dollars</strong>, a <strong>5.42% decline</strong> from 2019.</li>
    </ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
    
  5. Monthly GDP growth of the UK 2022-2025

    • statista.com
    • ai-chatbox.pro
    Updated Jul 11, 2025
    + more versions
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    Statista (2025). Monthly GDP growth of the UK 2022-2025 [Dataset]. https://www.statista.com/statistics/941233/monthly-gdp-growth-uk/
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    Dataset updated
    Jul 11, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    May 2023 - May 2025
    Area covered
    United Kingdom
    Description

    The UK economy shrank by 0.1 percent in May 2025 after shrinking by 0.3 percent in April. Since a huge decline in GDP in April 2020, the UK economy has gradually recovered and is now around 4.4 percent larger than it was before the COVID-19 pandemic. After the initial recovery from the pandemic, however, the UK economy has effectively flatlined, fluctuating between low growth and small contractions since January 2022. Labour banking on growth to turn around fortunes in 2025 In February 2025, just over half a year after winning the last general election, the approval rating for the new Labour government fell to a low of -48 percent. Furthermore, the Prime Minister, Keir Starmer was not only less popular than the new Conservative leader, Kemi Badenoch, but also the leader of the Reform Party, Nigel Farage, whose party have surged in opinion polls recently. This remarkable decline in popularity for the new government is, in some part, due to a deliberate policy of making tough decisions early. Arguably, the most damaging of these policies was the withdrawal of the winter fuel allowance for some pensioners, although other factors such as a controversy about gifts and donations also hurt the government. While Labour aims to restore the UK's economic and political credibility in the long term, they will certainly hope for some good economic news sooner rather than later. Economy bounces back in 2024 after ending 2023 in recession Due to two consecutive quarters of negative economic growth, in late 2023 the UK economy ended the year in recession. After not growing at all in the second quarter of 2023, UK GDP fell by 0.1 percent in the third quarter, and then by 0.3 percent in the last quarter. For the whole of 2023, the economy grew by 0.4 percent compared to 2022, and for 2024 is forecast to have grown by 1.1 percent. During the first two quarters of 2024, UK GDP grew by 0.7 percent, and 0.4 percent, with this relatively strong growth followed by zero percent growth in the third quarter of the year. Although the economy had started to grow again by the time of the 2024 general election, this was not enough to save the Conservative government at the time. Despite usually seen as the best party for handling the economy, the Conservative's economic competency was behind that of Labour on the eve of the 2024 election.

  6. GDP growth forecast UK 2019-2029

    • statista.com
    Updated Jun 25, 2025
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    Statista (2025). GDP growth forecast UK 2019-2029 [Dataset]. https://www.statista.com/statistics/375195/gdp-growth-forecast-uk/
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    Dataset updated
    Jun 25, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    In 2024, the gross domestic product (GDP) of the United Kingdom grew by *** percent and is expected to grow by just *** percent in 2025 and by *** percent in 2026. Growth is expected to slow down to *** percent in 2027, and then grow by ***, and *** percent in 2027 and 2028 respectively. The sudden emergence of COVID-19 in 2020 and subsequent closure of large parts of the economy were the cause of the huge *** percent contraction in 2020, with the economy recovering somewhat in 2021, when the economy grew by *** percent. UK growth downgraded in 2025 Although the economy is still expected to grow in 2025, the *** percent growth anticipated in this forecast has been halved from *** percent in October 2024. Increased geopolitical uncertainty as well as the impact of American tariffs on the global economy are some of the main reasons for this mark down. The UK's inflation rate for 2025 has also been revised, with an annual rate of *** percent predicated, up from *** percent in the last forecast. Unemployment is also anticipated to be higher than initially thought, with the annual unemployment rate likely to be *** percent instead of *** percent. Long-term growth problems In the last two quarters of 2023, the UK economy shrank by *** percent in Q3 and by *** percent in Q4, plunging the UK into recession for the first time since the COVID-19 pandemic. Even before that last recession, however, the UK economy has been struggling with weak growth. Although growth since the pandemic has been noticeably sluggish, there has been a clear long-term trend of declining growth rates. The economy has consistently been seen as one of the most important issues to people in Britain, ahead of health, immigration and the environment. Achieving strong levels of economic growth is one of the main aims of the Labour government elected in 2024, although after almost one year in power it has so far proven elusive.

  7. T

    United Kingdom GDP Growth Rate

    • tradingeconomics.com
    • de.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated May 15, 2025
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    TRADING ECONOMICS (2025). United Kingdom GDP Growth Rate [Dataset]. https://tradingeconomics.com/united-kingdom/gdp-growth
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    excel, json, csv, xmlAvailable download formats
    Dataset updated
    May 15, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jun 30, 1955 - Mar 31, 2025
    Area covered
    United Kingdom
    Description

    The Gross Domestic Product (GDP) in the United Kingdom expanded 0.70 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - United Kingdom GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  8. United Kingdom Real GDP Growth

    • ceicdata.com
    Updated Feb 15, 2025
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    CEICdata.com (2025). United Kingdom Real GDP Growth [Dataset]. https://www.ceicdata.com/en/indicator/united-kingdom/real-gdp-growth
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    Dataset updated
    Feb 15, 2025
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 1, 2020 - Dec 1, 2022
    Area covered
    United Kingdom
    Variables measured
    Gross Domestic Product
    Description

    Key information about United Kingdom Real GDP Growth

    • The Gross Domestic Product (GDP) in United Kingdom expanded 0.4 % YoY in Dec 2022, following a growth of 1.9 % in the previous quarter.
    • Real GDP Growth YoY data in UK is updated quarterly, available from Mar 1956 to Dec 2022, with an average rate of 2.2 %.
    • The data reached an all-time high of 24.4 % in Jun 2021 and a record low of -22.6 % in Jun 2020.
    CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. The Office for National Statistics provides Real GDP in local currency, at chain linked 2019 prices.


    Related information about United Kingdom Real GDP Growth

    • In the latest reports, Nominal GDP of UK reached 744.4 USD bn in Dec 2022.
    • Its GDP deflator (implicit price deflator) increased 6.6 % in Dec 2022.
    • GDP Per Capita in UK reached 46,373.9 USD in Dec 2021.
    • Its Gross Savings Rate was measured at 16.3 % in Sep 2022.
    • For Nominal GDP contributions, Investment accounted for 16.7 % in Sep 2022.
    • Public Consumption accounted for 20.8 % in Sep 2022.
    • Private Consumption accounted for 62.9 % in Sep 2022.

  9. T

    United Kingdom GDP

    • tradingeconomics.com
    • jp.tradingeconomics.com
    • +13more
    csv, excel, json, xml
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    TRADING ECONOMICS, United Kingdom GDP [Dataset]. https://tradingeconomics.com/united-kingdom/gdp
    Explore at:
    xml, excel, csv, jsonAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1960 - Dec 31, 2024
    Area covered
    United Kingdom
    Description

    The Gross Domestic Product (GDP) in the United Kingdom was worth 3643.83 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United Kingdom represents 3.43 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.

  10. Regional gross domestic product: all ITL regions

    • ons.gov.uk
    • cy.ons.gov.uk
    xlsx
    Updated Apr 17, 2025
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    Office for National Statistics (2025). Regional gross domestic product: all ITL regions [Dataset]. https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/regionalgrossdomesticproductallnutslevelregions
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    xlsxAvailable download formats
    Dataset updated
    Apr 17, 2025
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Description

    Annual estimates of balanced UK regional gross domestic product (GDP). Current price estimates and chained volume measures for UK countries, ITL1, ITL2 and ITL3 regions.

  11. Webinar: UK Economic Update May 2021

    • ibisworld.com
    Updated May 24, 2021
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    IBISWorld (2021). Webinar: UK Economic Update May 2021 [Dataset]. https://www.ibisworld.com/blog/webinar-uk-economic-update-may-2021/44/5644/
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    Dataset updated
    May 24, 2021
    Dataset authored and provided by
    IBISWorld
    Time period covered
    May 24, 2021
    Area covered
    United Kingdom
    Description

    Industry Analysts discuss the UK inflation rate and movements in house prices.

  12. Webinar: UK Economic Update June 2021

    • ibisworld.com
    Updated Jun 17, 2021
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    IBISWorld (2021). Webinar: UK Economic Update June 2021 [Dataset]. https://www.ibisworld.com/blog/webinar-uk-economic-update-june-2021/44/5644/
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    Dataset updated
    Jun 17, 2021
    Dataset authored and provided by
    IBISWorld
    Time period covered
    Jun 17, 2021
    Area covered
    United Kingdom
    Description

    Industry Analysts discuss remote working and the performance of the construction sector.

  13. GDP of the UK 1948-2024

    • statista.com
    • ai-chatbox.pro
    Updated Jun 30, 2025
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    Statista (2025). GDP of the UK 1948-2024 [Dataset]. https://www.statista.com/statistics/281744/gdp-of-the-united-kingdom/
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    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    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. UK's global share of GDP falling 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.  

  14. Regional gross domestic product: local authorities

    • ons.gov.uk
    • cy.ons.gov.uk
    xlsx
    Updated Apr 17, 2025
    + more versions
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    Office for National Statistics (2025). Regional gross domestic product: local authorities [Dataset]. https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/regionalgrossdomesticproductlocalauthorities
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    xlsxAvailable download formats
    Dataset updated
    Apr 17, 2025
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Description

    Annual estimates of balanced UK regional gross domestic product (GDP). Current price estimates and chained volume measures for local authority districts, London boroughs, unitary authorities and Scottish Council areas.

  15. T

    United Kingdom GDP YoY

    • tradingeconomics.com
    csv, excel, json, xml
    Updated Mar 15, 2025
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    TRADING ECONOMICS (2025). United Kingdom GDP YoY [Dataset]. https://tradingeconomics.com/united-kingdom/economic-activity-index
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    json, xml, excel, csvAvailable download formats
    Dataset updated
    Mar 15, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 31, 1998 - Aug 31, 2021
    Area covered
    United Kingdom
    Description

    Economic Activity Index in the United Kingdom decreased to 6.90 percent in August from 8.80 percent in July of 2021. This dataset provides - United Kingdom GDP YoY- actual values, historical data, forecast, chart, statistics, economic calendar and news.

  16. UK gross domestic expenditure on research and development (designated as...

    • ons.gov.uk
    • cy.ons.gov.uk
    xlsx
    Updated Aug 8, 2024
    + more versions
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    Office for National Statistics (2024). UK gross domestic expenditure on research and development (designated as official statistics) [Dataset]. https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/researchanddevelopmentexpenditure/datasets/ukgrossdomesticexpenditureonresearchanddevelopment2021designatedasofficialstatistics
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    xlsxAvailable download formats
    Dataset updated
    Aug 8, 2024
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Area covered
    United Kingdom
    Description

    Annual estimates of research and development in the UK performed and funded by business enterprise, higher education, government, UK Research and Innovation, and private non-profit organisations.

  17. Quarterly GDP growth of the UK 2022-2025

    • statista.com
    Updated Jun 30, 2025
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    Statista (2025). Quarterly GDP growth of the UK 2022-2025 [Dataset]. https://www.statista.com/statistics/970941/quarterly-gdp-growth-uk/
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    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    The UK economy grew by 0.7 percent in the first quarter of 2025, compared with 0.1 percent growth in the previous quarter. After ending 2023 in recession, the UK economy grew strongly in the first half of 2024, growing by 0.8 percent in Q1, and 0.4 percent in Q2, with growth slowing in the second half of the year. In the third quarter of 2020 the UK experienced record setting growth of 16.8 percent, which itself followed the record 20.3 percent contraction in Q2 2020. Growing economy key to Labour's plans Since winning the 2024 general election, the UK's Labour Party have seen their popularity fall substantially. In February 2025, the government's approval rating fell to a low of -54 percent, making them almost as disliked as the Conservatives just before the last election. A string of unpopular policies since taking office have taken a heavy toll on support for the government. Labour hope they can reverse their declining popularity by growing the economy, which has underperformed for several years, and when measured in GDP per capita, fell in 2023, and 2024. Steady labor market trends set to continue? After a robust 2022, the UK labor market remained resilient throughout 2023 and 2024. The unemployment rate at the end of 2024 was 4.4 percent, up from four percent at the start of the year, but still one of the lowest rates on record. While the average number of job vacancies has been falling since a May 2022 peak, there was a slight increase in January 2025 when compared with the previous month. The more concerning aspect of the labor market, from the government's perspective, are the high levels of economic inactivity due to long-term sickness, which reached a peak of 2.84 million in late 2023, and remained at high levels throughout 2024.

  18. Impact of Blue Book 2021 changes on quarterly and monthly volume estimates...

    • ons.gov.uk
    • cy.ons.gov.uk
    xlsx
    Updated Sep 8, 2021
    + more versions
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    Office for National Statistics (2021). Impact of Blue Book 2021 changes on quarterly and monthly volume estimates of gross domestic product by industry [Dataset]. https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/impactofbluebook2021changesonquarterlyandmonthlyvolumeestimatesofgrossdomesticproductbyindustry
    Explore at:
    xlsxAvailable download formats
    Dataset updated
    Sep 8, 2021
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Description

    Accompanying dataset showing the methodological and data improvements that affect quarterly current price and volume, and monthly chained volume measures of quarterly gross domestic product (GDP) by industry, 1997 to 2019.

  19. Coronavirus and the impact on output in the UK economy: March 2021

    • gov.uk
    • s3.amazonaws.com
    Updated May 12, 2021
    + more versions
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    Office for National Statistics (2021). Coronavirus and the impact on output in the UK economy: March 2021 [Dataset]. https://www.gov.uk/government/statistics/coronavirus-and-the-impact-on-output-in-the-uk-economy-march-2021
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    Dataset updated
    May 12, 2021
    Dataset provided by
    GOV.UKhttp://gov.uk/
    Authors
    Office for National Statistics
    Area covered
    United Kingdom
    Description

    Official statistics are produced impartially and free from political influence.

  20. Post coronavirus GDP growth forecast in the United Kingdom 2020-2021

    • statista.com
    Updated Jul 9, 2025
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    Statista (2025). Post coronavirus GDP growth forecast in the United Kingdom 2020-2021 [Dataset]. https://www.statista.com/statistics/1107834/uk-gdp-growth-forecast/
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    Dataset updated
    Jul 9, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2020
    Area covered
    United Kingdom
    Description

    The economy of the United Kingdom is expected to fall by ** percent in the second quarter of 2020, following the Coronavirus outbreak and closure of several businesses. According to the forecast the economy will bounce back in the third quarter of 2020, based on a scenario where the lockdown lasts for three months, with social distancing gradually phased out over a subsequent three-month period.

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Statista (2025). Annual GDP growth in the UK 1949-2024 [Dataset]. https://www.statista.com/statistics/281734/gdp-growth-in-the-united-kingdom-uk/
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Annual GDP growth in the UK 1949-2024

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9 scholarly articles cite this dataset (View in Google Scholar)
Dataset updated
Jun 30, 2025
Dataset authored and provided by
Statistahttp://statista.com/
Area covered
United Kingdom
Description

The United Kingdom's economy grew by 1.1 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.

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