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Indicators of economy in the United Kingdom

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in the United Kingdom reached 41.059 US dollars per inhabitant, or 2,759.80 bn US Dollar in the whole country. The United Kingdom is one of the world's largest economies and is currently at rank 5. If this is calculated per inhabitant taking into account the purchasing power parity, then the United Kingdom is in the list of the world's richest countries in place 27.

Inflation in the United Kingdom was in 2021 at around 2.52%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 7.5% higher.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: United Kingdom

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in the United Kingdom in 2020 decreased moderatly from 2,878.67 billion US Dollar to 2,759.80 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 4.1% is still comparatively good this year. Numerous countries suffered more substantial losses. The unemployment rate rose from 3.7 to 4.5 percent. The inflation rate has fallen from 1.7 percent previously to 1.0 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 United Kingdom
Total
United Kingdom
per capita
EU
Total
EU
per capita
GDP2,759.80 bn USD41,059.17 USD15,291.93 tn USD29,692.11 USD
Gross national product2,677.08 bn USD39,828.44 USD15,330.84 tn USD29,767.66 USD


the United Kingdom ranked 18th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 66 of the 2000 largest listed companies in the world originate from the United Kingdom. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country were in 2021:

Rank 40: HSBC Holdings ()
Rank 90: Unilever (London)
Rank 97: GlaxoSmithKline ()
Rank 105: Prudential ()
Rank 120: Vodafone (Newbury)
Rank 143: Barclays (London)
Rank 149: Linde (Guildford)
Rank 161: AstraZeneca ()
Rank 177: Lloyds Banking Group ()
Rank 188: Legal & General Group ()

Development of the Gross domestic product in billion US Dollar 1960 - 2020


Household debt and deficits 2019


 United Kingdom
Total
United Kingdom
per capita
EU
Total
EU
per capita
Gross debt2,488.31 bn USD37,019.96 USD13,783.28 tn USD26,762.78 USD
Budget deficit65.32 bn USD971.81 USD1,053.73 bn USD2,046.02 USD


Im- and Exports 2020

 United Kingdom
Total
United Kingdom
per capita
EU
Total
EU
per capita
Imports767.29 bn USD11,415.45 USD7,340.01 bn USD14,251.98 USD
Exports771.48 bn USD11,477.77 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 1970 - 2020

Exports
Imports



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