Gross domestic product (GDP) growth rate in the United Kingdom 2022

United Kingdom: Real gross domestic product (GDP) growth rate from 2012 to 2022 (compared to the previous year)

Gross domestic product (GDP) growth rate in the United Kingdom 2022 The statistic shows the growth rate in the real GDP in the United Kingdom from 2012 to 2017, with projections up until 2022. In 2017, the rate of GDP growth in the United Kingdom was at around 1.66 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

United Kingdom: Real gross domestic product (GDP) growth rate from 2012 to 2022 (compared to the previous year)

Loading statistic...
GDP growth rate compared to previous year
2022*1.63%
2021*1.56%
2020*1.52%
2019*1.49%
2018*1.36%
20171.66%
20161.79%
20152.35%
20142.95%
20132.05%
20121.48%
GDP growth rate compared to previous year
2022*1.63%
2021*1.56%
2020*1.52%
2019*1.49%
2018*1.36%
20171.66%
20161.79%
20152.35%
20142.95%
20132.05%
20121.48%
Download Settings Share
Chart type
Datalabels
Share on Social Media
HTML code to embed chart as PNG (FAQ)
Download started
Please be patient - this may take a moment

Description

Source

More information

The statistic shows the growth rate in the real GDP in the United Kingdom from 2012 to 2017, with projections up until 2022. In 2017, the rate of GDP growth in the United Kingdom was at around 1.66 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
Release date
October 2018
Region
United Kingdom (Great Britain)
Survey time period
2012 to 2017
Supplementary notes
* Estimate.

Values have been rounded to provide a better understanding of the statistic.

According to the source, these figures refer to the United Kingdom and include Great Britain (England, Wales and Scotland) and Northern Ireland.

Figures prior to 2011 were taken from the World Economic Outlook Database October 2012.
Statista Accounts: Access All Statistics. Starting from $588 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.

Premium Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$49 / Month *

Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract.
   Prices do not include sales tax.
Leading companies trust Statista:
paypalgoogleadobepgsamsungtelekom
Related Studies: Available to Download in PDF or PPTX Format
Gross Domestic Product of the UK
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 is a great source of knowledge, and pretty helpful to manage the daily work.
Christof Baron

Christof Baron
CEO, MindShare Germany

Statistics on "United Kingdom"
  • Population
  • Economy
The most important statistics
  • State finances
  • United Kingdom in international comparison
  • Brexit
Need help with using Statista for your research? Tutorials and first steps
Further Content: Statistics, Studies, and Topic Pages
Learn more about how Statista can support your business.
Do you have any questions about our business solutions?

We provide you with detailed information about our Corporate Account.