United Kingdom GDP growth 2000-2019

In 2019 he United Kingdom’s economy grew by approximately 1.4 percent, the slowest it had grown since the great recession of the late 2010s, where the economy shrank by 4.2 percent. Prior to the economic crash of 2008, the British economy expanded at a relatively healthy rate, particularly in 2000 when gross-domestic product grew by 3.7 percent.

World's Fifth-largest economy
With a gross domestic product of approximately 2.11 trillion British pounds, the United Kingdom boasts the fifth-largest economy in the world. Within Europe, Britain’s economy is second only to Germany’s, while France’s economy is only slightly smaller than the United Kingdom’s.

Brexit effect
Until its trading relationship with the European Union is made clear, it is uncertain how Brexit will affect the economy of the United Kingdom. In the event of a no-deal Brexit for example the Bank of England predicted that GDP could shrink by as much as eight percent and lead to an increase in both the unemployment rate and inflation.

Gross domestic product (GDP) year-on-year growth in the United Kingdom (UK) from 2000 to 2019

Annual growth
20191.4%
20181.3%
20171.9%
20161.9%
20152.3%
20143.1%
20132.1%
20121.5%
20111.5%
20101.7%
2009-4.2%
2008-0.5%
20072.4%
20062.5%
20053.1%
20042.4%
20033.3%
20022.5%
20012.5%
20003.7%
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Source

Release date

February 2020

Region

United Kingdom

Survey time period

January 1, 2000 to December 31, 2019

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Statistics on "Gross Domestic Product of the UK"

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