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.

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.  

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.

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

The economy of the United Kingdom shrank by 0.3 percent in April 2025, after growing by 0.2 percent in March 2025. As of the most recent month, the UK economy is around 4.2 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.

U.K. gdp growth rate for 2023 was 0.34%, a 4.5% decline from 2022.

<ul style='margin-top:20px;'>

<li>U.K. gdp growth rate for 2022 was <strong>4.84%</strong>, a <strong>3.74% decline</strong> from 2021.</li>
<li>U.K. gdp growth rate for 2021 was <strong>8.58%</strong>, a <strong>18.87% increase</strong> from 2020.</li>
<li>U.K. gdp growth rate for 2020 was <strong>-10.30%</strong>, a <strong>11.92% decline</strong> from 2019.</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP 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.

U.K. GDP per capita for 2023 was $49,464, a 7.68% increase from 2022.

<ul style='margin-top:20px;'>

<li>U.K. GDP per capita for 2022 was <strong>$45,936</strong>, a <strong>2.05% decline</strong> from 2021.</li>
<li>U.K. GDP per capita for 2021 was <strong>$46,897</strong>, a <strong>16.65% increase</strong> from 2020.</li>
<li>U.K. GDP per capita for 2020 was <strong>$40,202</strong>, a <strong>5.77% decline</strong> from 2019.</li>
</ul>GDP per capita is gross domestic product divided by midyear population. GDP 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.

Key information about United Kingdom Nominal GDP

• United Kingdom Nominal GDP reached 744.4 USD bn in Dec 2022, compared with 735.9 USD bn in the previous quarter.
• Nominal GDP in UK is updated quarterly, available from Mar 1957 to Dec 2022, with an average number of 265.5 USD bn.
• The data reached an all-time high of 812.6 USD bn in Mar 2022 and a record low of 15.1 USD bn in Mar 1957.

• In the latest reports, UK GDP expanded 0.4 % YoY in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.6 % in Dec 2022.
• UK GDP Per Capita 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.

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.

• 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.

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.

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.

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.

The gross domestic product of England shrank by 0.6 percent in 2023, after a growth rate of 4.6 percent in 2021.

Key information about United Kingdom GDP Per Capita

• United Kingdom Gross Domestic Product (GDP) per Capita reached 46,373.940 USD in Dec 2021, compared with 40,340.010 USD in Dec 2020.
• UK GDP Per Capita data is updated yearly, available from Dec 1957 to Dec 2021, with an average number of 17,637.067 USD.
• The data reached an all-time high of 50,443.269 USD in Dec 2007 and a record low of 1,204.000 in Dec 1957.
• CEIC converts annual GDP per Capita into USD. Office for National Statistics provides GDP per Capita in local currency. Federal Reserve Board average market exchange rate is used for currency conversions. Seasonally adjusted auxiliary series is used since non-seasonally adjusted data is unavailable from the source.

• In the latest reports, UK GDP expanded 1.897 % YoY in Sep 2022.
• UK Nominal GDP reached 735.862 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 6.439 % in Sep 2022.
• Gross Savings Rate of UK was measured at 15.554 % in Sep 2022.

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.

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.

The Gross Domestic Product per capita in the United Kingdom was last recorded at 47322.67 US dollars in 2023. The GDP per Capita in the United Kingdom is equivalent to 375 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.