UK: CIC to GDP | Statista

Coins and banknotes not held by banks in the United Kingdom made up slightly more than three percent of GDP in 2021, a percentage that only increased in 2020. This so-called CIC/GDP ratio roughly measures the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regards, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and not necessarily reflects retail payments.

Share of currency in circulation (CIC) to the nominal GDP of the United Kingdom (UK) from 2012 to 2021

Characteristic	CIC/GDP ratio
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Release date

November 2022

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Region

United Kingdom

Survey time period

2012 to 2021

Supplementary notes

The numbers provided have been calculated from two sources:

Currency in circulation in national currency from the IMF or Bank for International Settlements;
Nominal GDP in current prices and national currency from the World Bank.

The CIC to GDP ratio roughly reflects the overall use of cash in a country. Note, however, that this is quite general (as it looks at the overall market for cash) and does not exclusively look at the component of consumers.

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