United Kingdom: Real gross domestic product (GDP) growth rate from 2010 to 2020 (compared to the previous year)

Loading statistic...
GDP growth rate compared to previous year
20101.92%
20111.51%
20121.31%
20131.91%
20143.07%
20152.19%
20161.81%
2017*2.05%
2018*1.46%
2019*1.61%
2020*1.91%
© Statista 2017

Show further information

Show sources information

AdvertisementTableau Software
 
About This Statistic

The statistic shows the growth rate in the real GDP in the United Kingdom from 2010 to 2016, with projections up until 2020. In 2016, the rate of GDP growth in the United Kingdom was at around 1.81 percent compared to the previous year.


The economy of the United Kingdom

GDP 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.

Show more
Special Functions
Download as ...
Graphic (PNG)
Excel (XLS)
PowerPoint (PPT)
PDF
Options
Settings
Print
Research Alerts
Download started
Please be patient - this may take a moment

Statista Accounts: Access All Statistics. Starting from $588 / Year

Statistics on "United Kingdom"

  • Population
The most important statistics
  • Economy
The most important statistics
  • State finances
The most important statistics
  • United Kingdom in international comparison
The most important statistics
  • Brexit
The most important statistics

Related Studies: Available to Download in PDF or PPTX Format

Gross Domestic Product of the UK

All Information
in one Presentation

Gross Domestic Product of the UK

Everything On "Gross Domestic Product of the UK" in One Document: Edited and Divided into Handy Chapters. Including Detailed References.

Statista for Your Company: The Research and Analysis Tool

  • Product Film
  • Statistics
  • Downloads

Our Premium Statistics - facts for your business

Currently, Statista provides more than 1 million statistics.
93 percent (all Premium content) are exclusively accessible via our professional accounts.

Unlimited access

As a Statista Premium customer, you receive unlimited access to all statistics at all times. Including downloads of data in the most common formats (XLS, PDF & PNG). Create relevant and significant statistics in no time.

You are in good company

Further Content: Statistics, Studies, and Topic Pages

Our Business Solutions: Save Time and Money

only

$588*

per year
Your advantages
  • Full access to all our statistics
  • Download as XLS, PDF & PNG
  • Relevant data: complete source information
All functions of our platform illustrated face-to-face
  • Learn how Statista supports your company
  • Extensive tour across the whole portal
  • Personal guidance by our support team
The knowledge database for your company
  • All functions of the Premium Account
  • Access to dossiers, forecasts and studies
  • Access to our international database
  • Publishing rights and other exclusive functions