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.

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 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.

The UK economy shrank by 0.1 percent in May 2025 after shrinking by 0.3 percent in April. Since a huge decline in GDP in April 2020, the UK economy has gradually recovered and is now around 4.4 percent larger than it was before the COVID-19 pandemic. After the initial recovery from the pandemic, however, the UK economy has effectively flatlined, fluctuating between low growth and small contractions since January 2022. Labour banking on growth to turn around fortunes in 2025 In February 2025, just over half a year after winning the last general election, the approval rating for the new Labour government fell to a low of -48 percent. Furthermore, the Prime Minister, Keir Starmer was not only less popular than the new Conservative leader, Kemi Badenoch, but also the leader of the Reform Party, Nigel Farage, whose party have surged in opinion polls recently. This remarkable decline in popularity for the new government is, in some part, due to a deliberate policy of making tough decisions early. Arguably, the most damaging of these policies was the withdrawal of the winter fuel allowance for some pensioners, although other factors such as a controversy about gifts and donations also hurt the government. While Labour aims to restore the UK's economic and political credibility in the long term, they will certainly hope for some good economic news sooner rather than later. Economy bounces back in 2024 after ending 2023 in recession Due to two consecutive quarters of negative economic growth, in late 2023 the UK economy ended the year in recession. After not growing at all in the second quarter of 2023, UK GDP fell by 0.1 percent in the third quarter, and then by 0.3 percent in the last quarter. For the whole of 2023, the economy grew by 0.4 percent compared to 2022, and for 2024 is forecast to have grown by 1.1 percent. During the first two quarters of 2024, UK GDP grew by 0.7 percent, and 0.4 percent, with this relatively strong growth followed by zero percent growth in the third quarter of the year. Although the economy had started to grow again by the time of the 2024 general election, this was not enough to save the Conservative government at the time. Despite usually seen as the best party for handling the economy, the Conservative's economic competency was behind that of Labour on the eve of the 2024 election.

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 statistic shows GDP per capita in the United Kingdom from 1987 to 2020, with projections up until 2030. In 2020, GDP per capita in the United Kingdom was at around 40,230.55 US dollars. The same year, the total UK population amounted to about 67.26 million people. The United Kingdom is among the leading countries in a world GDP ranking.Falling unemployment in a time of recessionGDP is a useful indicator when it comes to measuring the state of a nation’s economy. GDP is the market value of all final goods and services produced within a country in a given period of time, usually a year. GDP per capita equals exactly the GDI (gross domestic income) per capita and is not a measure of an individual’s personal income.As can be seen clearly in the statistic, gross domestic product (GDP) per capita in the United Kingdom is beginning to increase, albeit not to pre-recession levels. The UK is beginning to see signs of an economic recovery, though as of yet it remains unclear what sort of recovery this is. Questions have been raised as to whether the growth being seen is the right sort of growth for a well balanced recovery across the necessary sectors. An interesting oddity occurred in the United Kingdom for nine months in 2012, which saw a decreasing unemployment occurring at the same time as dip in nationwide economic productivity. This seems like good - if not unusual - news, but could be indicative of people entering part-time employment. It could also suggest that labor productivity is falling, meaning that the UK would be less competitive as a nation. The figures continue to rise, however, with an increase in employment in the private sector. With the rate of inflation in the UK impacting everyone’s daily lives, it is becoming increasingly difficult for vulnerable groups to maintain a decent standard of living.

Across the United States, the United Kingdom, Germany, and the European Union, gross domestic products (GDP) decreased in 2020 as a result of the COVID-19 pandemic. However, by 2021, growth rates were positive in all four areas again. The United Kingdom, Germany, and the European Union all experiencing slow economic growth in 2023 amid high inflation, with Germany even seeing an economic recession. GDP and its components GDP refers to the total market value of all goods and services that are produced within a country per year. It is composed of government spending, consumption, business investments and net exports. It is an important indicator to measure the economic strength of a country. Economists rely on a variety of factors when predicting the future performance of the GDP. Inflation rate is one of the economic indicators providing insight into the future behavior of households, which make up a significant proportion of GDP. Projections are based on the past performance of such information. Future considerations Some factors can be more easily predicted than others. For example, projections of the annual inflation rate of the United States are easy to come by. However, the intensity and impact of something like Brexit is difficult to predict. Moreover, the occurrence and impact of events such as the COVID-19 pandemic and Russia's war in Ukraine is difficult to foresee. Hence, actual GDP growth may be higher or lower than the original estimates.

Key information about United Kingdom Foreign Exchange Reserves: % of GDP

• United Kingdom Foreign Exchange Reserves: % of GDP was reported at 3.125 % in Dec 2024
• This records a decrease from the previous number of 3.366 % for Sep 2024
• UK Foreign Exchange Reserves: % of GDP data is updated quarterly, averaging 2.299 % from Sep 1999 to Dec 2024, with 102 observations
• The data reached an all-time high of 5.406 % in Dec 2020 and a record low of 1.222 % in Mar 2009
• UK Foreign Exchange Reserves: % of GDP data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Foreign Exchange Reserves: % of Nominal GDP: Quarterly

CEIC calculates quarterly Foreign Exchange Reserves as % of Nominal GDP from monthly Foreign Exchange Reserves and quarterly Nominal GDP. The Bank of England provides Foreign Exchange Reserves in USD. Office for National Statistics provides Nominal GDP in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

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.

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.

Related information about United Kingdom GDP Per Capita data

• 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.

The Consumer Price Index of the United Kingdom was 136 in the first quarter of 2025, indicating that consumer prices have increased by 36 percent when compared with the first quarter of 2015. As of March 2025, the inflation rate for the CPI was 2.6 percent, a slight fall from the previous month. A long period of elevated inflation between 2021 and 2023 peaked in October 2022, and saw prices increase by over 20 percent in just three years. Uptick in inflation expected in 2025 In late 2024, the UK's main economic forecaster; the Office for Budget Responsibility, predicted that the annual inflation rate for 2025 would average out at around 2.6 percent. In March 2025, however, the OBR revised this figure upward, with annual inflation now expected to be 3.2 percent. This uptick in inflation is predicted to peak in the third quarter of the year at 3.7 percent, before falling to two percent by the second quarter of 2026. Although this period of higher inflation is predicted to be far less severe than in 2022, it will no doubt put further pressure on households already struggling with their cost of living. Cost of living woes continue The share of UK households reporting that their cost of living was increasing has been steadily rising since Summer 2024. At that time, less than half of UK households reported rising costs, down from 91 percent two years earlier. As of March 2025, however, 59 percent of households said their costs were rising, the highest figure since 2023. Of these households, 93 percent reported that their food shop was increasing, with three quarters of them reporting higher energy costs. With higher inflation predicted in 2025, the pressure on UK households will likely continue, although a crisis on the scale of 2021-2023 will hopefully be avoided.

Kapitalisasi Pasar:% dari PDB Inggris Raya dilaporkan sebesar 83.8 % pada 2024. Rekor ini naik dibanding sebelumnya yaitu 70.5 % untuk 2023. Data Kapitalisasi Pasar:% dari PDB Inggris Raya diperbarui tahunan, dengan rata-rata 108.0 % dari 1999 sampai 2024, dengan 26 observasi. Data ini mencapai angka tertinggi sebesar 131.2 % pada 2006 dan rekor terendah sebesar 70.5 % pada 2023. Data Kapitalisasi Pasar:% dari PDB Inggris Raya tetap berstatus aktif di CEIC dan dilaporkan oleh CEIC Data. Data dikategorikan dalam Global Economic Monitor World Trend Plus – Table: Market Capitalization: % of Nominal GDP: Annual.

Key information about United Kingdom Gross National Product (GNP)

• United Kingdom Gross National Product (GNP) was reported at 920.655 USD bn in Sep 2024.
• This records an increase from the previous number of 872.904 USD bn for Jun 2024.
• UK Gross National Product (GNP) data is updated quarterly, averaging 282.639 USD bn from Mar 1957 to Sep 2024, with 271 observations.
• The data reached an all-time high of 920.655 USD bn in Sep 2024 and a record low of 14.941 USD bn in Mar 1957.

Related information about United Kingdom Gross National Product (GNP) data

• UK Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• CEIC converts quarterly Gross National Product into USD. Office for National Statistics provides Gross National Product in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

Construction output in the United Kingdom increased 1.20 percent in May of 2025 over the same month in the previous year. This dataset provides the latest reported value for - United Kingdom Construction Output - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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Japanese Whiskey Market Size 2024-2028

The Japanese whiskey market size is forecast to increase by USD 874.5 million, at a CAGR of 11.8% between 2024 and 2028. The market is experiencing significant growth, driven by several key trends. One notable trend is the increasing use of online sales channels for selling alcohol, which has gained popularity among consumers due to the convenience and safety it offers, especially during the ongoing pandemic. Another trend is the growing preference for organic whiskey, as consumers become more health-conscious and seek out products with natural ingredients. Additionally, the market is witnessing a rise in demand for luxury whiskies and super-premium whiskies, driven by the rising disposable income and increasing awareness of Japanese culture and tradition. These factors are expected to fuel market growth and make it a lucrative space for players in the coming years.

What will be the size of the Japanese Whiskey Market During the Forecast Period?

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The market is experiencing exponential growth, driven by the increasing popularity of whiskey in pubs and bars, happy hours, and the cocktail culture. Mixology and social media have played a significant role in promoting this trend. The on-trade segment, which includes sales through bars and fast casual restaurants, accounts for a major share of the market revenue. Off-trade distribution channels, such as retail shops and online retail channels, are also gaining traction. At the country level, the residential sector's consumption of Japanese whiskey is increasing due to the growing cocktail culture and mixology trends. Offline sales applications continue to dominate, but online sales are also growing rapidly.

The industry's quantitative data reveals a steady increase in sales, while qualitative data indicates a strong consumer preference for premium and super-premium whiskeys. Product pricing remains a key factor influencing market growth. Commercial development and cost are other significant opportunities and challenges for market participants. The regional levels of the market show varying growth rates, with major cities leading the way in terms of sales volume and value. Country GDP and consumer disposable income also impact market growth. Overall, the market is expected to continue its strong growth trajectory in the coming years.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

End-user

  Commercial
  Residential


Distribution Channel

  On-trade
  Off-trade


Geography

  APAC

    Japan


  North America

    US


  Europe

    UK


  South America



  Middle East and Africa

By End-user Insights

The commercial segment is estimated to witness significant growth during the forecast period. Japanese whisky continues to garner significant attention in the global beverage market, with projected pricing trends indicating continued growth. The product lifecycle of Japanese whisky reflects its transition from a niche spirit to a mainstream luxury beverage. Our research methodology includes subject-related expert advice, economic, social, and political factors, regulations, and government spending to provide a comprehensive analysis. Economic factors, such as disposable income and exchange rates, influence consumer purchasing power and demand for premium spirits. Social factors, including changing consumer preferences and cultural trends, contribute to the increasing popularity of Japanese whisky. Political factors, including trade agreements and tariffs, impact the availability and affordability of Japanese whisky in various markets.

Regulations and government spending on alcoholic beverage industries also influence the Japanese whisky market. Positive changes, such as increased investment in research and development and marketing efforts, can boost the market's growth. Conversely, negative changes, such as stricter regulations or decreased government support, can hinder market expansion. Japanese whisky's reputation for quality and craftsmanship makes it a desirable choice for establishments seeking to offer diverse and sophisticated beverage selections. It is often featured in high-end bars, restaurants, luxury hotels, and catering services, adding a touch of elegance and refinement to various occasions.

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The commercial segment accounted for USD 688.90 million in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 72% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers

The statistic shows the gross domestic product (GDP) at current prices in Taiwan from 2014 to 2024 with a forecast until 2025. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. In 2024, Taiwan's gross domestic product at current prices reached approximately ***** billion U.S. dollars.

Großbritanniens Marktkapitalisierung:% des BIP belief sich im 2024 auf 83.8 %. Dies stellt einen Anstieg im Vergleich zu den vorherigen Zahlen von 70.5 % für 2023 dar. Großbritanniens Marktkapitalisierung:% des BIP werden jährlich aktualisiert, mit einem Durchschnitt von 108.0 % von 1999 bis 2024, mit 26 Beobachtungen. Die Daten erreichten ein Allzeithoch in Höhe von 131.2 % im 2006 und ein Rekordtief in Höhe von 70.5 % im 2023. Großbritanniens Marktkapitalisierung:% des BIP Daten behalten den Aktiv-Status in CEIC und werden von CEIC Data gemeldet. Die Daten werden unter World Trend Pluss Global Economic Monitor – Table: Market Capitalization: % of Nominal GDP: Annual kategorisiert.

Key information about United Kingdom Household Debt

• United Kingdom Household Debt reached 3,076.4 USD bn in Sep 2024, compared with the reported number of 2,873.8 USD bn in the previous quarter
• UK Household Debt: USD mn data is updated quarterly, available from Mar 1987 to Sep 2024
• The data reached an all-time high of 3,298.5 USD bn in Jun 2008 and a record low of 406.9 USD bn in Mar 1987

CEIC converts quarterly Household Debt into USD. Office for National Statistics provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Household Debt includes NPISH.


Further information about United Kingdom Household Debt

• In the latest reports, United Kingdom Household Debt accounted for 81.5 % of the country's Nominal GDP in Sep 2024
• Money Supply M2 in United Kingdom increased 3,931.4 USD bn YoY in Oct 2024
• United Kingdom Foreign Exchange Reserves was measured at 115.5 USD bn in Nov 2024
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Oct 2024
• United Kingdom Domestic Credit reached 5,119.2 USD bn in Aug 2024, representing an drop of 0.9 % YoY

In 2025, the annual unemployment rate of the United Kingdom is expected to be *** percent, compared with *** percent in 2024. Unemployment is forecast to fall to *** percent in 2026, gradually declining to *** percent by 2028. In the UK's last government budget in October 2024, the country's unemployment rate for 2025 was forecast to average out at *** percent, but this was increased to *** percent in the "Spring Statement" on public finances in March 2025. Uptick in unemployment after falling to historic lows A common indicator of an economy’s relative health, the unemployment rate in the UK generally fell throughout most of the 2010s, after reaching *** percent in late 2011. After a sudden increase in unemployment during the COVID-19 pandemic, there was a steep decline that lasted until August 2022, when the unemployment rate was just *** percent. There was then a rise in unemployment from 2023 onwards, which continued throughout 2024 and into 2025. This has been matched by a fall in UK job vacancies, which peaked at *** million in May 2022, but has been falling in most months since then, with approximately ******* vacancies in February 2025. Revisions to GDP and inflation for 2025 Since the global financial crisis of the late 2000s, and especially since the COVID-19 pandemic, the UK's economic growth has been poor, with the UK alternating between weak growth and slight contractions. For 2025, the UK economy is set to grow by just *** percent, a downgrade from *** percent predicted in late 2024. Inflation, which skyrocketed from late 2021 onwards, reached a peak of **** percent in October 2022, and although down to more usual levels by 2024, is expected to rise in 2025, reaching around *** percent by the second half of the year.

The revenue in the fashion e-commerce market in the United Kingdom was forecast to continuously increase between 2024 and 2029 by in total **** billion U.S. dollars (+***** percent). After the sixth consecutive increasing year, the indicator is estimated to reach **** billion U.S. dollars and therefore a new peak in 2029. Find more information concerning North America and the United States.The Statista Market Insights cover a broad range of additional markets.