United Kingdom GDP growth 1949-2019

In 2019 the 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.

What impact will the Coronavirus have?
The Coronavirus outbreak which gripped the country in early 2020 is expected to have a significant impact on the UK economy. It is forecast that the economy will enter into a recession in 2020, and weather up to four consecutive quarters of negative growth, before the economy will slowly start to grow again in 2021. The closure of several businesses in the wake of social distancing measures has already seen the number of new benefit claims skyrocket, with almost 1 million claims in the last two weeks of March compared with an average of about 100 thousand.

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.

Gross domestic product (GDP) year-on-year growth in the United Kingdom (UK) from 1949 to 2019

Zoomable Statistic: Select the range in the chart you want to zoom in on.
Loading statistic...
You need to log in to download this statistic
Register for free
Already a member?
Log in
Show detailed source information?
Register for free
Already a member?
Log in
Source

Release date

February 2020

Region

United Kingdom

Survey time period

1949 to 2019

Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.

Single Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references
$59 $39 / Month *
in the first 12 months
Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract; Prices do not include sales tax.

Statistics on "Gross Domestic Product of the UK"

Further Content: You might find this interesting as well

Statista Accounts: Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.