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.

As London looks ahead to a skills devolution deal, the capital has ambitions to create an adult skills system that is more responsive to the needs of the local economy. This work reflects on the area based review which will shape the future of the Further Education sector in London. Analysis by GLA Economics sets out what drives London’s economy, and what this means for future skills needs. In this series of papers we analyse the demand for jobs and skills to inform the Government’s area reviews of post-16 education and training, covering four London sub-regions (working papers 76-79). Thanks to London’s excellent transport links, the job opportunities available to learners are wider than a particular sub-region. The 2011 Census shows that less than half of all workers in London (48%) live in the same sub-regional area as their place of work. This calls for a broader, pan-London view (working paper 75). https://www.london.gov.uk/business-and-economy-publications/skills-londons-economy

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 most up-to-date information on London's economy, published by email every month. Each issue includes an overview of current economic conditions, the latest indicators and a supplement on a significant issue facing London. Additional data from the latest edition of London’s Economy Today can be found here on the Datastore. Sign up to receive London's Economy Today every month. HOUSING INDICATORS The Land Registry house price index (Quarterly since 1968). Land Registry data External link LABOUR MARKET INDICATORS The unemployment rate. (Monthly since Q2 1992) The unemployment rate measures the proportion of the economically active population (those in work plus those seeking and available to work) who were unemployed. Seasonally Adjusted. TRANSPORT INDICATORS London Underground Journeys (Monthly since 2006) including moving average and annual rate of growth Bus Journeys (Monthly since 2006) including moving average and annual rate of growth

London’s Economic Outlook is GLA Economics’ London forecast. The forecasts are issued every six months to assist those preparing planning projections for London in the medium term. The report contains the following: An overview of recent economic conditions in London, the UK and the world economies with analysis of important events, trends and risks to short and medium-term growth. The ‘consensus forecast’ – a review of independent forecasts indicating the range of views about London’s economy and the possible upside and downside risk. In this context, ‘consensus forecast’ refers to the average of the independent forecasters (Cambridge Econometrics, The Centre for Economic and Business Research, Experian Economics, and Oxford Economics) The GLA Economics forecast for output, employment, household expenditure and household income in London. Provided below are links to the current and previous versions of GLA Economics' medium term forecast for the level and growth rate of London's GVA, employment, household income and household expenditure. Forecasts for the growth and level of employment and GVA for selected sectors of the economy are also included. All output variables are measured in terms of output at basic prices. The price base for the latest dataset is 2011. All growth rates are in percentage change per annum. All employment levels are in millions. All output levels are in £bn.

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

This paper summarises the latest evidence and analysis on the impacts of COVID-19 on London’s economy so far and on the economic outlook so that key actors and stakeholders engaged in responding to the pandemic can have a readily available evidence base to inform policy responses.

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.

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.

Number of workplaces and employees working in industry sectors that operate in the evening or night. The "night time economy" is defined as the following Standard Industrial Classification 2007 (SIC 2007) industries: Cultural and leisure activities Activities which support night time cultural and leisure activities 24-hour health and personal social services Activities which support wider social and economic activities This data is provided at Borough and MSOA level. This dataset is included in the Greater London Authority's Night Time Observatory. Click here to find out more.

The statistic shows the growth rate in the real GDP in the United Kingdom from 2020 to 2024, with projections up until 2030. In 2024, the rate of GDP growth in the United Kingdom was at around 1.1 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.

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 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.  

Welcome to the City Data Strategy for London. This document is built around the following vision: We want London to have the most dynamic and productive City Data Market in the world. In our City Data Market, the capabilities, talents and capacity of all our city data partners will impact on our huge social, economic and service-based challenges. To make this happen, friction in the sharing and value-driven exploitation of city data will be reduced to a minimum. City data will be recognised as part of the capital’s infrastructure. We will use it to save money, incubate innovation and drive economic growth. And London will achieve global renown for data impact. We will of course use this strategy in support of City Hall initiatives like the Smart London Plan, but we acknowledge at the outset that the Greater London Authority simply cannot deliver this strategy on its own. Indeed, data knows no boundaries and is hard to contain, so we should not try. Our simple aim is to make sure that London, its economy and its communities are able to derive maximum benefit from the undoubted potential London’s Data Market can deliver. It therefore signals the start of a plan which will actively integrate and mobilise all the ‘working parts’ of the city data economy. We want the various audiences that the Strategy is aimed at to engage with it. We will listen and evolve the strategy as this rapidly developing part of the cityscape develops.

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.

The main aim of this work is to develop a set of high level macro economic scenarios for the medium-term (to the end of 2022) and for the long-term (to 2030) in order to inform the development of recovery strategies in London, reflecting unprecedented uncertainty on the economic outlook. The primary scenario dimensions include Effectiveness/nature of public health response and Effectiveness/impact of economic support measures. Other scenario dimensions include: Brexit and migration; International economic context; Technology and innovation; Financial climate; Political economy; Economic Geography and GHG emissions. This is an agile project - GLA Economics will continue to track actual data in order to review the assessment of the likelihood of alternative scenario outcomes. Successive updates will be released when they become available for the benefit of external stakeholders in tackling the COVID-19 crisis.

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.

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.