In 2023, the gross domestic product of London was approximately *** billion British pounds, compared with *** billion pounds in 2022.

In 2023, London had a gross domestic product of over 569 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 360 billion pounds. North West England, which includes the major cities of Manchester and Liverpool, had the third-largest GDP among UK regions, at almost 250 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 over 63,600 pounds per person in the UK capital, compared with just over 37,100 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.

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.

In 2023, London GDP shrank by 0.5 percent, compared with growth of 7.9 percent in 2022.

In 2023, gross domestic product per capita in London was ****** British pounds, compared with ****** pounds in the previous year.

Gross domestic product (GDP) in current market prices and as chained volume measures, plus GDP per capita, for each local authority district, metropolitan district, London borough and Scottish Council area in the UK.

Graph and download economic data for Total Per Capita Real Gross Domestic Product for Norwich-New London, CT (MSA) (DISCONTINUED) (PCRGMP35980) from 2001 to 2017 about Norwich, CT, per capita, real, industry, GDP, and USA.

Graph and download economic data for Total Real Gross Domestic Product for Norwich-New London, CT (MSA) (RGMP35980) from 2001 to 2023 about Norwich, CT, real, industry, GDP, and USA.

In 2023, the gross domestic product per capita in London was 63,618 British pounds, compared with 37,135 pounds per capita for the United Kingdom as a whole. Apart from London, the only other region of the UK that had a greater GDP per capita than the UK average was South East England, at 38,004 pounds per capita. By contrast, North East England had the lowest GDP per capita among UK regions, at 26,347 pounds. Regional imbalance in the UK economy? London's overall GDP in 2022 was over 508 billion British pounds, which accounted for almost a quarter of the overall GDP of the United Kingdom. South East England had the second-largest regional economy in the country, with a GDP of almost 341.7 billion British pounds. Furthermore, these two regions were the only ones that had higher levels of productivity (as measured by output per hour worked) than the UK average. While recent governments have recognized regional inequality as a major challenge facing the country, it may take several years for any initiatives to bear fruit. The creation of regional metro mayors across England is one of the earliest attempts at giving regions and cities in particular more power over spending in their regions than they currently have. UK economy growth slow in late 2024 After ending 2023 with two quarters of negative growth, the UK economy grew at the reasonable rate of 0.8 percent and 0.4 percent in the first and second quarters of the year. This was, however, followed by zero growth in the third quarter, and by just 0.1 percent in the last quarter of the year. Other economic indicators, such as the inflation rate, fell within the expected range in 2024, but have started to rise again, with a rate of three percent recorded in January 2025. While unemployment has witnessed a slight uptick since 2022, it is still at quite low levels compared with previous years.

Quarterly economic activity within England, Wales and the nine English regions (North East, North West, Yorkshire and The Humber, East Midlands, West Midlands, East of England, London, South East, South West).

Graph and download economic data for Real Gross Domestic Product: All Industries in New London County, CT (REALGDPALL09011) from 2001 to 2023 about New London County, CT; Norwich; CT; real; industry; GDP; and USA.

Key information about United Kingdom Market Capitalization: % of GDP

• United Kingdom Market Capitalization accounted for 83.8 % of its Nominal GDP in Dec 2024, compared with a percentage of 70.5 % in the previous year
• UK Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1999 to Dec 2024
• The data reached an all-time high of 131.2 % in Dec 2006 and a record low of 70.5 % in Dec 2023

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and quarterly Nominal GDP. London Stock Exchange provides Market Capitalization in local currency. The Office for National Statistics provides Nominal GDP in local currency. As of 2017, definitions from the revised Markets in Financial Instruments Directive (MiFID II) have been introduced. Market Capitalization includes domestically listed companies only.


Further information about United Kingdom Market Capitalization: % of GDP

• In the latest reports, FTSE All-Share recorded a daily P/E ratio of 14.4 in Jul 2022
• FTSE 100 closed at 8,674.0 points in Jan 2025

The direct contribution of travel and tourism to London's gross domestic product (GDP) was significantly lower in the first two years of the coronavirus (COVID-19) pandemic compared to 2019. Due to the impact of the health crisis, these industries' direct contribution to GDP in the UK's capital amounted to 3.6 billion British pounds in 2021, dropping by nearly 74 percent from 2019. As forecast, this figure is expected to rebound to an estimated 10.9 billion British pounds in 2022, denoting a sharp annual increase but remaining below pre-pandemic levels.

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.

Graph and download economic data for Real Gross Domestic Product: Government and Government Enterprises in New London County, CT (REALGDPGOVT09011) from 2001 to 2023 about New London County, CT; Norwich; enterprises; CT; government; real; GDP; and USA.

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.

505 Economics is on a mission to make academic economics accessible. We've developed the first monthly sub-national GDP data for EU and UK regions from January 2015 onwards.

Our GDP dataset uses luminosity as a proxy for GDP. The brighter a place, the more economic activity that place tends to have.

We produce the data using high-resolution night time satellite imagery and Artificial Intelligence.

This builds on our academic research at the London School of Economics, and we're producing the dataset in collaboration with the European Space Agency BIC UK.

We have published peer-reviewed academic articles on the usage of luminosity as an accurate proxy for GDP.

Key features:

• Granular: Data is provided at the following geographical units:
  • NUTS3 (e.g. London Boroughs),
  • NUTS2 (e.g. London),
  • NUTS1 (e.g. England), and
  • NUTS0 (e.g. United Kingdom) levels.
• Frequent: Data is provided every month from January 2015. This is more frequent than the annualised official datasets.
• Timely: Data is provided with a one month lag (i.e. the data for January 2021 was published at the end of February 2021). This is substantially quicker than the 18 month lag of official datasets.
• Accurate: Our dataset uses Deep Learning to maximise accuracy (RMSE 1.2%).

The dataset can be used by:

• Governments and policy makers - to monitor the performance of local economies, to measure the localised impact of policies, and to get a real-time indication of economic activity.
• Financial services - to get an indication of national-level GDP before official GDP statistics are released
• Engineering companies - to monitor and evaluate the localised impact of infrastructure projects
• Consultancies - to forecast the localised impact of specific projects, to retrospectively monitor and evaluate the localised impact of existing projects
• Economics firms - to create macro forecasts at the national and sub-national level, to assess the impact of policy interventions.
• Academia / Think Tanks - to conduct novel research at the local level. E.g. our dataset can be used to measure the impact of localised COVID-19 lockdowns.

We have created this dataset for all UK sub-national regions, 28 EU Countries and Switzerland.

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.  

Total Quantity Indexes for Real GDP for Norwich-New London, CT (MSA) was 103.95400 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, Total Quantity Indexes for Real GDP for Norwich-New London, CT (MSA) reached a record high of 125.67600 in January of 2007 and a record low of 88.62000 in January of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Quantity Indexes for Real GDP for Norwich-New London, CT (MSA) - last updated from the United States Federal Reserve on June of 2025.

The Gross Domestic Product (GDP) in the United Kingdom expanded 1.30 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - United Kingdom GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.