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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, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in the United Kingdom, on the other hand, reached USD 46,510 per capita, or 3.131 trillion USD for the whole country. The United Kingdom is one of the world's largest economies and is currently at rank 6. If this is calculated per inhabitant, taking purchasing power parity into account, then the United Kingdom ranks 26th in the list of the richest countries.

Inflation in the United Kingdom in 2021 was around 2.52%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 7.9 percent higher.
The index for perceived corruption in the public sector is 78, which is above average by global standards.


Back to overview: United Kingdom

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in the United Kingdom 2020. Overall, gross domestic product in 2020 fell from 2.857 trillion US dollars to 2.705 trillion US dollars. With a drop of 5.3 percent, the economy in the United Kingdom suffered more significant losses than other countries. The unemployment rate rose from 3.7 to 4.5 percent. The inflation rate fell from 1.7 percent previously to 1.0 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 United Kingdom
Total
United Kingdom
per capita
EU
Total
EU
per capita
GDP3.131 tn USD46,510.28 USD17.177 tn USD33,384.92 USD
Gross national product2.995 tn USD44,480.68 USD16.895 tn USD32,835.37 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. Out of the 2,000 largest listed companies in the world, 64 originate from the United Kingdom. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:

Rank 16: Shell (London)
Rank 38: HSBC Holdings (London)
Rank 50: BP (London)
Rank 82: Rio Tinto (London)
Rank 95: Lloyds Banking Group (London)
Rank 101: British American Tobacco (London)
Rank 125: Unilever (London)
Rank 129: GlaxoSmithKline (London)
Rank 155: Barclays (London)
Rank 181: Anglo American (London)

Development of gross domestic product in billions of USD 1960 - 2021


Household debt and deficits 2019


 United Kingdom
Total
United Kingdom
per capita
EU
Total
EU
per capita
Gross debt2.488 tn USD36,958.77 USD15.068 tn USD29,285.70 USD
Budget deficit65.32 bn USD970.20 USD799.24 bn USD1,553.35 USD


Imports and Exports 2021

 United Kingdom
Total
United Kingdom
per capita
EU
Total
EU
per capita
Imports899.63 bn USD13,362.16 USD8.916 tn USD17,329.02 USD
Exports859.70 bn USD12,769.10 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1970 - 2021

Exports
Imports



United Kingdom: AirportsLargest airports and airlines in the United KingdomThe 30 biggest airports and 9 airlines in the United Kingdom with further information and data with further information on airlines and destinations
United Kingdom: Public HolidaysPublic holidays in the United Kingdom 2023-2027Statutory and inofficial holidays in the United Kingdom for 2023 to 2027
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