GDP of the UK 1948-2019

The Gross domestic product of the United Kingdom in 2019 was 2.17 trillion British pounds, an increase of about 27 billion pounds when compared with the previous year. From 2000 to 2008 the UK’s GDP increased each year, except for 2009, when the British economy shrunk. By 2010 GDP had recovered and resumed its steady growth.

 Could there be a recession in 2020?

  The outbreak of Coronavirus in early 2020 will likely cause significant damage to the economy of the United Kingdom. According a forecast from March 2020, the UK would experience five quarters of negative growth, with the second quarter of 2020 seeing the UK shrink by 3.9 percent, and growth not expected again until at least 2021.  From the first quarter of 2021 to the fourth, the growth of the economy is forecasted to be constant.

 Comparisons with Europe

  The UK currently has the second-largest economy in Europe, after Germany whose GDP amounted to around 3.449 trillion Euros in 2019. France has a similar-sized economy to the UK, at approximately 2.42 trillion Euros and was the third-largest European economy in 2019.