In 2023, the gross domestic product for England was 2.14 trillion British pounds, compared with 2022 when the GDP of England was 2.16 trillion pounds.

In the second quarter of 2025, the quarterly GDP per person in the United Kingdom was 10,137 British pounds, compared with 10,120 pounds in the previous quarter.

In the third quarter of 2025, the quarterly gross domestic product of the United Kingdom was approximately, 706 billion British pounds, compared with around 705.5 billion pounds in the previous quarter. The large dip in GDP that can be seen in the second quarter of 2020 saw the UK economy fall from 652 billion pounds to 522 billion, with more usual levels of output not recovering until well into 2021. The COVID-19 lockdowns enacted by the UK government at that time was the main reason for this large fall in GDP. Growth lagging as UK heads into 2025 After ending 2023 in recession, the UK economy started 2024 with the strongest quarterly GDP growth in several years, growing by 0.7 percent in the first quarter, and then by 0.4 percent in the second quarter. Economic growth in the second half of the year was, however, far less promising, with GDP flatlining in the third quarter, and monthly GDP shrinking by 0.1 percent in September and then again in October. Although GDP is still forecast to grow in 2025, the overall economic picture is precarious. In November, UK inflation rose to 2.6 percent, compared with just 1.7 percent in September, while the labor market continues to show signs of cooling after a period of high job vacancies and low unemployment. Labour pinning hopes on long-term growth After winning its first general election in 19 years in 2024, the Labour Government has seen its approval ratings plummet in its first few months in office. This shaky start is partly due to a government strategy of making unpopular decisions early in their tenure, which they hope will eventually encourage stable economic growth in the mid to long-term. By far the least popular policy was the withdrawal of winter fuel benefits for a significant number of pensioners, a cost-cutting measure deemed necessary due to the UK's vulnerable public finance position, with government debt at around 100 percent of GDP. A further measure introduced was a national insurance tax increase for employers, with almost half of UK firms citing increased taxes as their main external concern in Q3 2024. Avoiding any further tax rises or cuts to services will depend on if policies in other areas, such as planning reform, will kickstart the UK economy in time before the next election.

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.

In 2025, the UK's gross domestic product is forecast to reach 2.96 trillion British pounds, and exceed three trillion pounds by 2026.

In 2024, the gross domestic product (GDP) of the United Kingdom grew by *** percent and is expected to grow by *** percent in 2025 and by *** percent in 2026. Between 2027 and 2030, the economy is forecast to grow by ****percent every year. 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. Long-term growth downgraded Although the UK economy will grow faster than expected in 2025, long-term economic growth is predicted to be slower. Increased geopolitical uncertainty as well as lower than expected productivity growth were some of the main reasons cited for this downgrade. In addition, the UK's inflation rate for 2025 was also revised, with an annual rate of *** percent predicated, up from *** percent in the last forecast. Unemployment has also been 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 current government elected, although after one and a half years in power it has so far proven elusive.

Annual and quarterly data for UK gross domestic product (GDP) estimates, in chained volume measures and current market prices.

The gross domestic product of the United Kingdom in 2024 was around 2.78 trillion British pounds, an increase when compared to the previous year, when UK GDP amounted to about 2.75 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.  

The Gross Domestic Product per capita in the United Kingdom was last recorded at 47265 US dollars in 2024. The GDP per Capita in the United Kingdom is equivalent to 374 percent of the world's average. This dataset provides the latest reported value for - United Kingdom GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

European Union GDP: EU 27 excl UK: Taxes on Production & Imports Less Subsidies data was reported at 437.678 EUR bn in Dec 2019. This records an increase from the previous number of 413.585 EUR bn for Sep 2019. European Union GDP: EU 27 excl UK: Taxes on Production & Imports Less Subsidies data is updated quarterly, averaging 295.136 EUR bn from Mar 1995 (Median) to Dec 2019, with 100 observations. The data reached an all-time high of 437.678 EUR bn in Dec 2019 and a record low of 154.855 EUR bn in Mar 1995. European Union GDP: EU 27 excl UK: Taxes on Production & Imports Less Subsidies data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.A015: ESA 2010: Eurostat: GDP: By Income: Current Price.

European Union UK: GDP: CL 2010p: swda: Gross Capital Formation (GCF) data was reported at 116.663 EUR bn in Mar 2019. This records an increase from the previous number of 105.002 EUR bn for Dec 2018. European Union UK: GDP: CL 2010p: swda: Gross Capital Formation (GCF) data is updated quarterly, averaging 75.348 EUR bn from Mar 1995 (Median) to Mar 2019, with 97 observations. The data reached an all-time high of 116.663 EUR bn in Mar 2019 and a record low of 54.015 EUR bn in Mar 1995. European Union UK: GDP: CL 2010p: swda: Gross Capital Formation (GCF) data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s United Kingdom – Table UK.Eurostat: GDP: by Expenditure: ESA 2010: Chain Linked 2010 Price: Seasonally and Working Day Adjusted.

In Blue Book 2019, Office for National Statistics (ONS) will introduce a new framework to produce GDP, both in current prices and in volume terms. Estimates of the impact to current price and chained volume measure estimates for gross domestic product (GDP) from 1997 to 2016, planned for publication in September 2019.

European Union GDP Per Capita: EU 27 excl UK data was reported at 31,090.000 EUR in 2019. This records an increase from the previous number of 30,160.000 EUR for 2018. European Union GDP Per Capita: EU 27 excl UK data is updated yearly, averaging 24,050.000 EUR from Dec 1995 (Median) to 2019, with 25 observations. The data reached an all-time high of 31,090.000 EUR in 2019 and a record low of 14,900.000 EUR in 1995. European Union GDP Per Capita: EU 27 excl UK data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.A017: ESA 2010: Eurostat: GDP: GDP per Capita.

Key information about UK GDP Deflator Growth

• United Kingdom GDP deflator (implicit price deflator) increased 3.7 % in Sep 2025, compared with an increase of 4.2 % in the previous quarter.
• UK GDP Deflator Growth data is updated quarterly, available from Mar 1956 to Sep 2025, with an average rate of 1,331.0 %.
• The data reached an all-time high of 1,852.0 % in Dec 2019 and a record low of 13.0 % in Dec 1997.

• In the latest reports, United Kingdom GDP expanded 1.3 % YoY in Sep 2025.
• Its Nominal GDP reached 1,029.9 USD bn in Sep 2025.
• UK GDP Per Capita reached 53,191.3 USD in Dec 2024.
• Its Gross Savings Rate was measured at 17.5 % in Jun 2025.

The economy of the United Kingdom reported zero growth in July 2025, after growing by 0.4 percent in June 2025. As of the most recent month, the UK economy is around 4.8 percent larger than it was in February 2020, just before the start of COVID-19 lockdowns. After a record 19.6 percent decline in GDP in April 2020, the UK economy quickly returned to growth in the following months, and grew through most of 2021. Cost of living crisis lingers into 2025 As of December 2024, just over half of people in the UK reported that their cost of living was higher than it was in the previous month. Although this is a decline from the peak of the crisis in 2022 when over 90 percent of people reported a higher cost of living, households are evidently still under severe pressure. While wage growth has outpaced inflation since July 2023, overall consumer prices were 20 percent higher in late 2024 than they were in late 2021. For food and energy, which lower income households spend more on, late 2024 prices were almost 30 percent higher when compared with late 2021. According to recent estimates, living standards, as measured by changes in disposable income fell by 2.1 percent in 2022/23, but did start to grow again in 2023/24. Late 2023 recession followed by growth in 2024 In December 2023, the UK economy was approximately the same size as it was a year earlier, and struggled to achieve modest growth throughout that year. Going into 2023, a surge in energy costs, as well as high interest rates, created an unfavorable environment for UK consumers and businesses. The inflationary pressures that drove these problems did start to subside, however, with inflation falling to 3.9 percent in November 2023, down from a peak of 11.1 percent in October 2022. Although relatively strong economic growth occurred in the first half of 2024, with GDP growing by 0.7 percent, and 0.4 percent in the first two quarters of the year, zero growth was reported in the third quarter of the year. Long-term issues, such as low business investment, weak productivity growth, and regional inequality, will likely continue to hamper the economy going forward.

GDP Nowcast: saar: YoY: Contribution: Consumer Survey: Consumer Confidence Indicator (CI): sa: EU 27 excl UK (EU 27E) data was reported at 0.167 % in 12 May 2025. This records a decrease from the previous number of 0.169 % for 05 May 2025. GDP Nowcast: saar: YoY: Contribution: Consumer Survey: Consumer Confidence Indicator (CI): sa: EU 27 excl UK (EU 27E) data is updated weekly, averaging 0.559 % from Jan 2019 (Median) to 12 May 2025, with 332 observations. The data reached an all-time high of 5.385 % in 25 Mar 2019 and a record low of 0.000 % in 18 Feb 2019. GDP Nowcast: saar: YoY: Contribution: Consumer Survey: Consumer Confidence Indicator (CI): sa: EU 27 excl UK (EU 27E) data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Gross Domestic Product (GDP).