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. How big is the UK economy in relation to the rest of the world? 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.  

United Kingdom UK: GDP: Growth data was reported at 1.787 % in 2017. This records a decrease from the previous number of 1.936 % for 2016. United Kingdom UK: GDP: Growth data is updated yearly, averaging 2.527 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 6.596 % in 1970 and a record low of -4.188 % in 2009. United Kingdom UK: GDP: Growth data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

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.

The statistic shows the growth rate in the real GDP in the United Kingdom from 2019 to 2023, with projections up until 2029. In 2023, the rate of GDP growth in the United Kingdom was at around 0.34 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.

United Kingdom UK: GDP: per Capita data was reported at 30,862.888 GBP in 2017. This records an increase from the previous number of 29,930.545 GBP for 2016. United Kingdom UK: GDP: per Capita data is updated yearly, averaging 9,456.718 GBP from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 30,862.888 GBP in 2017 and a record low of 492.967 GBP in 1960. United Kingdom UK: GDP: per Capita 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. 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

The UK economy shrank by 0.1 percent in January 2025 after growing by 0.4 percent in December. Since a huge decline in GDP in April 2020, the UK economy has gradually recovered and is now around 3.4 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 Gross Domestic Product (GDP) in the United Kingdom expanded 1.40 percent in the fourth quarter of 2024 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.

United Kingdom UK: GDP: Growth: Gross Value Added: Industry data was reported at 3.053 % in 2017. This records an increase from the previous number of 1.452 % for 2016. United Kingdom UK: GDP: Growth: Gross Value Added: Industry data is updated yearly, averaging 1.098 % from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 4.640 % in 2010 and a record low of -10.086 % in 2009. United Kingdom UK: GDP: Growth: Gross Value Added: Industry data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual growth rate for industrial value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. 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 origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

United Kingdom UK: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data was reported at 9.203 % in 2017. This records an increase from the previous number of 9.015 % for 2016. United Kingdom UK: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 10.479 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 16.704 % in 1990 and a record low of 8.723 % in 2009. United Kingdom UK: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Gross Domestic Product: Share of GDP. Manufacturing refers to industries belonging to ISIC divisions 15-37. 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 origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

United Kingdom UK: GDP data was reported at 2,037,638.000 GBP mn in 2017. This records an increase from the previous number of 1,963,311.000 GBP mn for 2016. United Kingdom UK: GDP data is updated yearly, averaging 539,091.500 GBP mn from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 2,037,638.000 GBP mn in 2017 and a record low of 25,831.457 GBP mn in 1960. United Kingdom UK: GDP 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. 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Graph and download economic data for Gross Domestic Product for United Kingdom (MKTGDPGBA646NWDB) from 1960 to 2023 about United Kingdom and GDP.

Graph and download economic data for Real Gross Domestic Product for United Kingdom (DISCONTINUED) (CLVMNACSCAB1GQUK) from Q1 1975 to Q3 2020 about United Kingdom, real, and GDP.

Monthly GDP YoY in the United Kingdom decreased to 1 percent in January from 1.50 percent in December of 2024. This dataset includes a chart with historical data for the United Kingdom Monthly GDP YoY.

Graph and download economic data for Nominal Gross Domestic Product at Market Prices in the United Kingdom (NGDPMPUKA) from 1700 to 2016 about market-based, academic data, United Kingdom, GDP, and price.

Monthly GDP MoM in the United Kingdom decreased to -0.10 percent in January from 0.40 percent in December of 2024. This dataset includes a chart with historical data for the United Kingdom Monthly GDP MoM.

United Kingdom UK: GDP: saar: Statistical Discrepancy data was reported at 5,796.000 GBP mn in 2017. This records a decrease from the previous number of 8,803.000 GBP mn for 2016. United Kingdom UK: GDP: saar: Statistical Discrepancy data is updated yearly, averaging 0.000 GBP mn from Dec 1955 (Median) to 2017, with 63 observations. The data reached an all-time high of 8,803.000 GBP mn in 2016 and a record low of -1,658.000 GBP mn in 1976. United Kingdom UK: GDP: saar: Statistical Discrepancy data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s UK – Table UK.IMF.IFS: Gross Domestic Product: by Expenditure: Seasonally Adjusted: Annual.

Leading Economic Index the United Kingdom increased 0.20 percent in January of 2025 over the same month in the previous year. This dataset provides - United Kingdom Monthly GDP- actual values, historical data, forecast, chart, statistics, economic calendar and news.

United Kingdom UK: GDP: % of GDP: Gross National Expenditure data was reported at 101.405 % in 2017. This records a decrease from the previous number of 102.072 % for 2016. United Kingdom UK: GDP: % of GDP: Gross National Expenditure data is updated yearly, averaging 101.039 % from Dec 1965 (Median) to 2017, with 53 observations. The data reached an all-time high of 104.744 % in 1974 and a record low of 97.234 % in 1981. United Kingdom UK: GDP: % of GDP: Gross National Expenditure data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Gross Domestic Product: Share of GDP. Gross national expenditure (formerly domestic absorption) is the sum of household final consumption expenditure (formerly private consumption), general government final consumption expenditure (formerly general government consumption), and gross capital formation (formerly gross domestic investment).; ; World Bank national accounts data, and OECD National Accounts data files.; ;

GDP Constant Prices in the United Kingdom increased to 641065 GBP Million in the fourth quarter of 2024 from 640417 GBP Million in the third quarter of 2024. This dataset provides the latest reported value for - United Kingdom GDP Constant Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.