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.  

Graph and download economic data for Production: Manufacturing: Total Manufacturing for United Kingdom (PRMNTO01GBQ657S) from Q2 1948 to Q1 2025 about United Kingdom, IP, and manufacturing.

In May 2024, output in UK construction grew by 1.9 percent, with services growing by 0.3 percent, while production output and agriculture output both grew by 0.2 percent.

Estimates for gross value added (GVA), hours worked and output per hour worked for whole economy and section level industries, as defined by the Standard Industrial Classification (SIC) 2007. Contains annual and quarterly statistics. Includes estimates for industry quarter on quarter, year on year and quarter on year contributions to whole economy output per hour worked.

Graph and download economic data for Production: Industry: Total Industry Excluding Construction for United Kingdom (PRINTO01GBQ657S) from Q2 1948 to Q1 2025 about United Kingdom, IP, and construction.

This statistic shows the United Kingdom (UK) financial and insurance industries gross value added (GVA) as a share of the UK's total economic output. It can be seen that in the years running up to the global financial crisis the United Kingdoms finance and insurance industry became a major factor of its economic gross value added output. in 2009 (one year post financial crisis) the UK's finance and insurance industry accounted for nine percent of its GVA. Since then there has been a steady decrease amounting to 6.9 percent as of 2018. In 2017, London accounted for almost half of financial sectors GVA.

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 2024, agriculture contributed around 0.56 percent to the United Kingdom’s GDP, 16.74 percent came from the manufacturing industry, and 72.79 percent from the services sector. The UK is not a farmer’s marketThe vast majority of the UK’s GDP is generated by the services sector, and tourism in particular keeps the economy going. In 2017, almost 214 billion British Pounds were contributed to the GDP through travel and tourism – about 277 billion U.S. dollars – and the forecasts see an upwards trend. For comparison, only an estimated 10.3 billion GBP were generated by the agriculture sector in the same year. But is it a tourist’s destination still? Though forecasts are not in yet, it is unclear whether travel and tourism can keep the UK’s economy afloat in the future, especially after Brexit and all its consequences. Higher travel costs, having to wait for visas, and overall more complicated travel arrangements are just some of the concerns tourists have when considering vacationing in the UK after Brexit. Consequences of the referendum are already observable in the domestic travel industry: In 2017, about 37 percent of British travelers said Brexit caused them to cut their holidays short by a few days, and about 14 percent said they did not leave the UK for their holidays because of it.

UK: GDP: USD: Gross Value Added at Factor Cost: Services data was reported at 1,837.492 USD bn in 2017. This records a decrease from the previous number of 1,871.606 USD bn for 2016. UK: GDP: USD: Gross Value Added at Factor Cost: Services data is updated yearly, averaging 1,538.539 USD bn from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 2,157.037 USD bn in 2007 and a record low of 735.385 USD bn in 1990. UK: GDP: USD: Gross Value Added at Factor Cost: Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s UK – Table UK.World Bank: Gross Domestic Product: Nominal. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges and import duties. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current U.S. dollars.; ; World Bank national accounts data, and OECD National Accounts data files.; Gap-filled total; Note: Data for OECD countries are based on ISIC, revision 4.

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.

Graph and download economic data for Production: Industry: Total Industry Excluding Construction for United Kingdom (PRINTO01GBQ659S) from Q1 1949 to Q4 2024 about United Kingdom, IP, and construction.

United Kingdom Output Per Filled Job: sa: Whole Economy data was reported at 101.000 2016=100 in Jun 2018. This records an increase from the previous number of 100.700 2016=100 for Mar 2018. United Kingdom Output Per Filled Job: sa: Whole Economy data is updated quarterly, averaging 69.100 2016=100 from Jun 1959 (Median) to Jun 2018, with 237 observations. The data reached an all-time high of 101.200 2016=100 in Dec 2017 and a record low of 33.000 2016=100 in Jun 1959. United Kingdom Output Per Filled Job: sa: Whole Economy data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.G037: Output Per Filled Job Index: 2016=100: Seasonally Adjusted.

The index of services (IoS) measures changes in the gross value added (GVA) of the UK services sector, tracking movements in volume output. According to a House of Common "Economic Indicators" report published in June 2021, service industries accounted for 80% of total UK economic output (i.e., GVA) in Q1 (January-March) 2021, and accounted for 82% of UK workforce jobs in the corresponding period. The UK service sectors includes finance, retail, business administration, wholesale, transport, hospitality, communications, government and other service-based markets (e.g., healthcare and education). The data in this report is sourced from the Office for National Statistics (ONS), while estimates are forecast by IBISWorld. Year-on-year figures are presented as a fiscal year (i.e., April through March) average of the index, with a base year of 2019 (i.e., 2019 calendar year = 100).

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.

In the first quarter of 2025, the quarterly gross domestic product of the United Kingdom was approximately, 647 billion British pounds, compared with around 642.3 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 604.7 billion pounds to 481.8 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.

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.

Manufacturing Production in the United Kingdom increased 0.40 percent in April of 2025 over the same month in the previous year. This dataset provides the latest reported value for - United Kingdom Manufacturing Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Industrial Production in the United Kingdom decreased 0.30 percent in April of 2025 over the same month in the previous year. This dataset provides the latest reported value for - United Kingdom Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Since 1980, Europe's largest economies have consistently been France, Germany, Italy, Spain, and the United Kingdom, although the former Soviet Union's economy was the largest in the 1980s, and Russia's economy has been larger than Spain's since 2010. Since Soviet dissolution, Germany has always had the largest economy in Europe, while either France or the UK has had the second largest economy depending on the year. Italy's economy was of a relatively similar size to that of the UK and France until the mid-2000s when it started to diverge, resulting in a difference of approximately 800 billion U.S dollars by 2018. Russia's economy had overtaken both Italy and Spain's in 2012, but has fallen since 2014 due to the drop in international oil prices and the economic sanctions imposed for its annexation of Crimea - economic growth is expected to be comparatively low in Russia in the coming years due to the economic fallout of its invasion of Ukraine in 2022. In 2025, Germany, now the world's third-largest economy, was estimated at over *** trillion U.S. dollars.

This report analyses the real growth rate of the United Kingdom's gross domestic product (GDP). GDP measures the total output of the economy and can be measured by collecting data on production across all sectors of the economy. The data is sourced from the Office for National Statistics (ONS), in addition to estimates by IBISWorld and with reference to Office for Budget Responsibility (OBR) forecasts, as per its 'Economic and fiscal outlook – March 2022' publication. In this report, data is seasonally adjusted and deflated using chained volume measures. Annual figures in this report refer to UK fiscal years (i.e., April-March).