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.  

In the first quarter of 2025, output per hour worked in the United Kingdom was one percent lower than in the base year of 2022, but still higher than in the previous quarter.

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.

The Gross Domestic Product per capita in the United Kingdom was last recorded at 47265 US dollars in 2024. The GDP per Capita in the United Kingdom is equivalent to 374 percent of the world's average. This dataset provides the latest reported value for - United Kingdom GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Annual estimates of balanced UK regional gross domestic product (GDP). Current price estimates and chained volume measures for combined authorities and city regions.

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.

The United Kingdom is the 9 most competitive nation in the world out of 140 countries ranked in the 2019 edition of the Global Competitiveness Report published by the World Economic Forum. This dataset provides the latest reported value for - United Kingdom Competitiveness Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

United Kingdom UK: Ease of Doing Business Index: 1=Most Business-friendly Regulations data was reported at 7.000 NA in 2017. United Kingdom UK: Ease of Doing Business Index: 1=Most Business-friendly Regulations data is updated yearly, averaging 7.000 NA from Dec 2017 (Median) to 2017, with 1 observations. United Kingdom UK: Ease of Doing Business Index: 1=Most Business-friendly Regulations 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: Business Environment. Ease of doing business ranks economies from 1 to 190, with first place being the best. A high ranking (a low numerical rank) means that the regulatory environment is conducive to business operation. The index averages the country's percentile rankings on 10 topics covered in the World Bank's Doing Business. The ranking on each topic is the simple average of the percentile rankings on its component indicators.; ; World Bank, Doing Business project (http://www.doingbusiness.org/).; ; Data are presented for the survey year instead of publication year. Data before 2013 are not comparable with data from 2013 onward due to methodological changes.

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.

United Kingdom GOI: Weighted Rank data was reported at 9.000 NA in 2023. This stayed constant from the previous number of 9.000 NA for 2022. United Kingdom GOI: Weighted Rank data is updated yearly, averaging 10.500 NA from Dec 2016 (Median) to 2023, with 8 observations. The data reached an all-time high of 25.000 NA in 2018 and a record low of 8.000 NA in 2021. United Kingdom GOI: Weighted Rank data remains active status in CEIC and is reported by Milken Institute. The data is categorized under Global Database’s United Kingdom – Table UK.Milken: Global Opportunity Index.

The United Kingdom is ranked 8 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of the United Kingdom improved to 8 in 2019 from 9 in 2018. This dataset includes a chart with historical data for Ease of Doing Business in the United Kingdom.

In 2024, gross domestic product per capita in the United Kingdom was 40,172 British pounds, compared with 40,162 pounds in the previous year. In general, while GDP per capita has grown quite consistently throughout this period, there are noticeable declines, especially between 2007 and 2009, and between 2019 and 2020, due to the Global Financial Crisis, and COVID-19 pandemic, respectively. Why is GDP per capita stagnating when the economy is growing? During the last two years that GDP per capita fell and then stagnated in the UK, the overall economy grew by 0.4 percent in 2023 and 1.1 percent in 2024. While the overall UK economy is therefore larger than it was in 2022, the UK's population has grown at a faster rate, resulting in the lower GDP per capita figure. The long-term slump in the UK's productivity, as measured by output per hour worked, has meant that the gap between GDP growth and GDP per capita growth has been widening for some time. Economy remains the main concern of UK voters As of February 2025, the economy was seen as the main issue facing the UK, just ahead of immigration, health, and several other problems in the country. While Brexit was seen as the most important issue before COVID-19, and concerns about health were dominant throughout 2020 and 2021, the economy has generally been the primary facing voters issue since 2022. The surge in inflation throughout 2022 and 2023, and the impact this had on wages and living standards, resulted in a very tough period for UK households. As of January 2025, 57 percent of households were still noticing rising living costs, although this is down from a peak of 91 percent in August 2022.

United Kingdom GOI: Total Rank data was reported at 5.000 NA in 2023. This records an increase from the previous number of 2.000 NA for 2022. United Kingdom GOI: Total Rank data is updated yearly, averaging 2.500 NA from Dec 2016 (Median) to 2023, with 8 observations. The data reached an all-time high of 6.000 NA in 2018 and a record low of 2.000 NA in 2022. United Kingdom GOI: Total Rank data remains active status in CEIC and is reported by Milken Institute. The data is categorized under Global Database’s United Kingdom – Table UK.Milken: Global Opportunity Index.

The United Kingdom: Globalization index (0-100): The latest value from 2022 is 87.95 points, a decline from 88 points in 2021. In comparison, the world average is 61.23 points, based on data from 190 countries. Historically, the average for the United Kingdom from 1970 to 2022 is 82.65 points. The minimum value, 68.02 points, was reached in 1970 while the maximum of 89.97 points was recorded in 2017.

Rankings of the percentages of workless, working and mixed households for upper-tier local authorities in Great Britain.

Time series data for the statistic Consolidated foreign claims of BIS reporting banks to GDP (%) and country United Kingdom. Indicator Definition:The ratio of consolidated foreign claims to GDP of the banks that are reporting to BIS. Foreign claims are defined as the sum of cross-border claims plus foreign offices’ local claims in all currencies. In the consolidated banking statistics claims that are granted or extended to nonresidents are referred to as either cross-border claims. In the context of the consolidated banking statistics, local claims refer to claims of domestic banks’ foreign affiliates (branches/subsidiaries) on the residents of the host country (i.e. country of residence of affiliates). Items (A+L from BIS Table 9A). End-of-year data (i.e. December data) are considered for banks claims. GDP is from World Development Indicators.The indicator "Consolidated foreign claims of BIS reporting banks to GDP (%)" stands at 116.40 as of 12/31/2020, the highest value since 12/31/2013. Regarding the One-Year-Change of the series, the current value constitutes an increase of 20.83 percent compared to the value the year prior.The 1 year change in percent is 20.83.The 3 year change in percent is 14.76.The 5 year change in percent is 18.79.The 10 year change in percent is -17.28.The Serie's long term average value is 101.89. It's latest available value, on 12/31/2020, is 14.24 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/1997, to it's latest available value, on 12/31/2020, is +14,225.58%.The Serie's change in percent from it's maximum value, on 12/31/2009, to it's latest available value, on 12/31/2020, is -24.75%.

As of July 2025, UK construction output as measured by gross value added was 5.1 percent larger than it was in 2022, while agriculture output has grown by 5.2 percent, and service output by 3.5 percent. By comparison, production output has fallen by 2.4 percent.

Over the five years through 2024-25, credit bureaux and rating agencies’ revenue is slated to fall at a compound annual rate of 5% to £2.3 billion. Geopolitical issues, particularly the forced stoppage of operations in Russia, have hurt the industry, mainly through lower deal rates and lost synergies with companies’ Russian branches. This also ate into profitability, cutting off some of the highest-ticket deals, which are the most profitable for rating agencies. Brexit restructuring has further influenced the market, with companies being forced to split their UK and EU operations. At the same time, weak economic conditions have held impeded revenue – low confidence and the high interest rate environment have meant there’s been less borrowing across the economy over the past few years, meaning less demand for the services credit rating agencies provide. In 2024-25, revenue is anticipated to climb by 3.2%. Increasingly favourable economic conditions, interest rate cuts and an upturn in deal-making are expected to stimulate borrowing. This will feed through to higher demand for credit rating services, as lenders require credit checks prior to approving loans. Over the five years through 2029-30, revenue is forecast to expand at a compound annual rate of 2.7% to £2.7 billion. Mounting demand for ESG rating services, which have been brought in by a number of major rating agencies, will be a key driver of this growth. Additionally, falling rates and a likely end to skyrocketing inflation will provide a more suitable environment for borrowing, ramping up demand for credit rating services.

Time series data for the statistic Government expenditure on tertiary education as % of GDP (%) and country United Kingdom. Indicator Definition:Total general (local, regional and central) government expenditure on tertiary education (current, capital, and transfers), expressed as a percentage of GDP. It includes expenditure funded by transfers from international sources to government. Divide total government expenditure for a given level of education (ex. primary, secondary, or all levels combined) by the GDP, and multiply by 100. A higher percentage of GDP spent on education shows a higher government priority for education, but also a higher capacity of the government to raise revenues for public spending, in relation to the size of the country's economy. When interpreting this indicator however, one should keep in mind in some countries, the private sector and/or households may fund a higher proportion of total funding for education, thus making government expenditure appear lower than in other countries. Limitations: In some instances data on total public expenditure on education refers only to the Ministry of Education, excluding other ministries which may also spend a part of their budget on educational activities. For more information, consult the UNESCO Institute of Statistics website: http://www.uis.unesco.org/Education/The indicator "Government expenditure on tertiary education as % of GDP (%)" stands at 1.45 as of 12/31/2017, the highest value at least since 12/31/1972, the period currently displayed. Regarding the One-Year-Change of the series, the current value constitutes an increase of 4.28 percent compared to the value the year prior.The 1 year change in percent is 4.28.The 3 year change in percent is 6.43.The 10 year change in percent is 69.64.The Serie's long term average value is 1.06. It's latest available value, on 12/31/2017, is 36.17 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/2000, to it's latest available value, on 12/31/2017, is +105.01%.The Serie's change in percent from it's maximum value, on 12/31/2017, to it's latest available value, on 12/31/2017, is 0.0%.