Gross domestic product (GDP) of the United Kingdom 2021 (in international dollars)

The statistic shows the GDP of the United Kingdom between 1984 and 2019, with projections up until 2021, in US dollars.

Private-sector-led economic recovery

GDP is counted among the primary indicators that are used to gauge the state of health of a national economy. GDP is the total value of all completed goods and services that have been produced within a country in a given period of time, usually a year. GDP figures allow us to gain a broader understanding of a country’s economy in a clear way. Real GDP, in a similar way, is also a rather useful indicator; this is a measurement that takes prices changes (inflation and deflation) into account, thereby acting as a key indicator for economic growth.

The gross domestic product of the United Kingdom is beginning to show signs of recovery since seeing a sharp decline in the wake of the financial crisis. The decreasing unemployment rate in the United Kingdom is also indicating that the worst could be over for the country. However, some concerns have arisen about what forms of employment are being represented, how stable the jobs are, and whether or not they are simply being cited by officials in government as validation for reforms that are criticized by opponents as being ‘ideologically motivated’. Whatever the political motivation, the coalition government’s efforts to let the private sector lead the economic recovery through increasing employment in the UK in the private sector appear, for now at least, to be working.

Gross domestic product (GDP) in current prices of the United Kingdom (UK) from 1984 to 2021

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Source

Release date

April 2020

Region

United Kingdom (Great Britain)

Survey time period

1984 to 2019

Supplementary notes

According to the source, due to the high level of uncertainty in current global economic conditions, the IMF projections for these indicators are provided only through 2021.

"International dollar" is a hypothetical currency that has a comparable purchase power parity to the U.S. dollar at any given time, i.e. one international dollar would buy a comparable amount of goods and services in the respective country to the amount one U.S. dollar would buy in the United States.

* Estimate.

For purpose of clarity, figures have been rounded.

According to the source, the statistic refers to the United Kingdom and includes Great Britain (England, Wales, Scotland) as well as Northern Ireland.

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Statistics on "United Kingdom"

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