United Kingdom's GDP changed from approximately $604B 697M in 1980 to $3T 495B in 2024, showing an overall 478.0% sharply increased during the period.
The lowest GDP was recorded in 1984 at $504B 939M, and the highest in 2024 at $3T 495B.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.1%.
For comparison, the average annual growth rate of France was 3.5%, and that of Germany was 3.9%.
United Kingdom GDP from 1980 to 2024
The total market value of goods and services produced annually in United Kingdom.
Overview of United Kingdom's GDP (1980–2024)
The Gross Domestic Product (GDP) of United Kingdom recorded a 478.0% sharply increased from 1980 to 2024.
The average GDP during this period was $1T 943B, and the median was $1T 788B.
GDP fluctuated within a range of $2T 990B, with a standard deviation of $937B 192M.
The average annual change was $68B 962M.
Highest and Lowest GDP Records
- Lowest GDP: 1984, $504B 939M
- Highest GDP: 2024, $3T 495B
- Most Recent GDP: 2024, $3T 495B
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and United Kingdom's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $2T 853B → $2T 699B
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $3T 91B → $2T 421B
- Outcome: sharply declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $1T 668B → $1T 650B
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $1T 561B → $1T 653B
- Outcome: increased
Key Economic Indicators of United Kingdom (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | -2.051 % | $ 604B 697M | $ 510B 79M | $ 10,734.90 | $ 9,055.20 | 19.81 % | 56M 330K people | 0.694 % | -0.667 % |
1981 | -0.687 % | $ 588B 342M | $ 554B 503M | $ 10,439.36 | $ 9,838.93 | 19.49 % | 56M 358K people | 1.693 % | -1.764 % |
1982 | 1.965 % | $ 559B 326M | $ 600B 337M | $ 9,936.33 | $ 10,664.89 | 19.03 % | 56M 291K people | 0.734 % | -0.548 % |
1983 | 4.166 % | $ 532B 924M | $ 649B 835M | $ 9,463.11 | $ 11,539.08 | 19.53 % | 56M 316K people | 0.408 % | -0.753 % |
1984 | 2.22 % | $ 504B 939M | $ 688B 239M | $ 8,951.40 | $ 12,200.87 | 19.79 % | 56M 409K people | -0.284 % | -0.514 % |
1985 | 4.088 % | $ 537B 200M | $ 739B 26M | $ 9,498.89 | $ 13,067.63 | 20.07 % | 56M 554K people | -0.061 % | -0.129 % |
1986 | 3.108 % | $ 655B 35M | $ 777B 336M | $ 11,555.91 | $ 13,713.51 | 19.28 % | 56M 684K people | -0.736 % | 0.034 % |
1987 | 5.42 % | $ 814B 102M | $ 839B 774M | $ 14,331.77 | $ 14,783.71 | 20.07 % | 56M 804K people | -1.329 % | 0.606 % |
1988 | 5.377 % | $ 989B 706M | $ 916B 137M | $ 17,388.88 | $ 16,096.29 | 20.38 % | 56M 916K people | -3.288 % | 2.103 % |
1989 | 2.402 % | $ 1T 7B | $ 974B 934M | $ 17,653.75 | $ 17,081.03 | 20.96 % | 57M 77K people | -3.815 % | 2.142 % |
1990 | 0.56 % | $ 1T 197B | $ 1T 17B | $ 20,913.04 | $ 17,769.46 | 20.36 % | 57M 238K people | -2.829 % | 0.159 % |
1991 | -1.405 % | $ 1T 248B | $ 1T 36B | $ 21,738.27 | $ 18,049.07 | 19.30 % | 57M 439K people | -1.09 % | -1.436 % |
1992 | 0.245 % | $ 1T 289B | $ 1T 62B | $ 22,394.49 | $ 18,458.79 | 17.95 % | 57M 585K people | -1.284 % | -4.03 % |
1993 | 2.259 % | $ 1T 155B | $ 1T 112B | $ 20,015.28 | $ 19,280.02 | 17.71 % | 57M 714K people | -1.052 % | -5.171 % |
1994 | 3.41 % | $ 1T 241B | $ 1T 175B | $ 21,460.02 | $ 20,311.14 | 18.60 % | 57M 862K people | -0.187 % | -4.028 % |
1995 | 2.386 % | $ 1T 344B | $ 1T 228B | $ 23,171.12 | $ 21,172.13 | 18.24 % | 58M 25K people | -0.381 % | -2.951 % |
1996 | 2.582 % | $ 1T 421B | $ 1T 283B | $ 24,432.61 | $ 22,063.59 | 18.54 % | 58M 164K people | -0.264 % | -1.624 % |
1997 | 4.925 % | $ 1T 561B | $ 1T 369B | $ 26,772.97 | $ 23,488.83 | 17.47 % | 58M 314K people | -0.14 % | 0.117 % |
1998 | 3.414 % | $ 1T 653B | $ 1T 432B | $ 28,283.06 | $ 24,496.20 | 17.80 % | 58M 475K people | -0.282 % | 1.763 % |
1999 | 3.066 % | $ 1T 688B | $ 1T 497B | $ 28,768.45 | $ 25,513.36 | 15.79 % | 58M 684K people | -2.115 % | 2.462 % |