GDP by Industry. The present publication presents time series which extend beyond the date of the United Kingdoms withdrawal from the European Union on 1 February 2020. U.K. gdp for 2018 was $3,106.21B, a 0.61% increase from 2018. Between 1949 and 2020, the year which had the highest annual GDP growth rate was 1973, when the UK economy grew by 6.5 percent. Read more. South Africa GDP (Gross Domestic Product) was INT$679.75billion for 2020 in PPP terms. World Economics makes available of worlds most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2020, building on the lifetimes work of Angus Maddison. When this issue is amended in The Blue Book 2017 it will reduce the level of GFCF across the 17 March 2021. GVA growth is set to average less than 1% across UK Powerhouse cities in Q4 2020. - October with the introduction of the tiered local lockdown system. UK gross domestic product (GDP) is estimated to have increased by a record 16.0% in Quarter 3 (July to Sept) 2020, revised from the first estimate of 15.5% growth. United States. Online tool for visualization and analysis. April 9, 2020. Though Zimbabwe real GDP growth fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at -8 % in 2020. The simple average annual growth rate across them was 1.2% in Q3 2019, but this is expected to be just 0.9% In 2020, the GPG for DCMS Sectors was 27.5%, compared to 15.5% for the whole of the UK economy. Greece GDP (Gross Domestic Product) was INT$298.22billion for 2020 in PPP terms. In the first quarter of 2021, the increase in transfer receipts was the leading contributor to personal income growth in GDP rose 0.8% month-on-month in seasonally-adjusted terms in May (April: +2.0% mom), notably below market expectations. Same region. Among G20 economies, China recorded the highest annual growth (3.2%), while India recorded the largest annual fall (minus 23.5%). It can be measured in cash terms ( nominal GDP) or in inflation-adjusted or real terms (real GDP). Growth is driven by a rebound of consumption, notably of services. WDI Tables. GDP Annual Growth Rate in the United Kingdom averaged 2.22 percent from 1956 until 2021, reaching an all time high of 9.70 percent in the first quarter of 1973 and a record low of -21.40 percent in the second quarter of 2020. In the second quarter, real GDP decreased 31.4 percent. Year-on-year GDP growth for the OECD area fell to minus 0.8% in the first quarter of 2020, following growth of 1.6% in the previous quarter. Kenya gdp growth rate for 2019 was 5.37%, a 0.95% decline from 2018. GDP in the United Kingdom decreased to 2829.11 USD Billion in 2019 from 2860.67 USD Billion in 2018. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Similar values. Kenya gdp growth rate for 2016 was 5.88%, a ONS figures show GDP shrank 9.9% last year, the biggest decline since the Great Frost of 1709. Business live: UK economy suffers record 9.9% slump in 2020 None. Among the Major Seven economies, the United States recorded the highest annual growth (0.3%), while France recorded the sharpest annual fall (minus 5.4%). World Economics makes available of worlds most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2020, building on the lifetimes work of Angus Maddison. In the first half of 2020, GDP shrank by 22.6%, the deepest recession in UK history and worse than any other G7 or European country. Global economic growth is now expected to be 5.8% this year, a sharp upwards revision from the December 2020 Economic Outlook projection of 4.2% for 2021.The vaccines rollout in many of the advanced economies has been driving the improvement, as The increase was the same rate as the "second" estimate released in May. United Kingdom Most data refers to 2019 (*indicates the most recent available) (~indicates 2020 data) Macroeconomy Population Trade & Investment Real annual GDP growth (%)~ -9.9 Population (millions)~ 67.09 Current account balance (% of GDP Read more. License : CC BY-4.0. The annual growth rate was 0.4 percent lower than the previous year. Growth Rate Same Period Previous Year, Annual, Not Seasonally Adjusted 1960 to 2020 (Apr 16) Index 2015=100, Annual, Not Seasonally Adjusted 1960 to 2020 (Apr 16) Gross Domestic Product by Expenditure in Constant Prices: Exports of Goods and Services for the United Kingdom. None. Will growth return in The ideal GDP growth rate is between 2% and 3%. 2020 The UKs GDP growth per capita figures are also unimpressive. Only these four countries have a gdp growth rate above 4%, and only twelve have a growth rate above 2%. GDP Annual Growth Rate in the United Kingdom averaged 2.22 percent from 1956 until 2021, reaching an all time high of 9.70 percent in the first quarter of 1973 and a record low of -21.40 percent The average annual rate of growth in current healthcare expenditure, in real terms, was 3.8% in the UK Health Accounts, compared with 4.2% in the Expenditure on health care in the UK series. Fourth Quarter to Fourth Quarter Percent Change, Annual, Not Seasonally Adjusted 2021 to 2023 (Jun 16) Personal Consumption Expenditures: Services. Year-on-year GDP in the G20 area fell by (minus) 9.1% in the second quarter of 2020, following a contraction of (minus) 1.7% in the previous quarter. GDP per Capita: $63,051. Economic Forecast Summary (May 2021) Strong GDP growth of 7.2% in 2021 and 5.5% in 2022 is projected as a large share of the population is vaccinated and restrictions to economic activity are progressively eased. The present publication presents time series which extend beyond the date of the United Kingdoms withdrawal from the European Union on February 1st, 2020. Februarys contraction was driven by declines in construction and mining. Though United Kingdom real GDP growth fluctuated substantially in recent years, it tended to decrease through 2001 - 2020 period ending at -9.9 % in 2020. Growth is driven by a rebound of consumption, notably of services. UK gross domestic product (GDP) was estimated to have increased by 0.1% in the first quarter of 2018 (January to March, 2018) according to figures released by the ONS.This is the slowest rate of growth since the last quarter of 2012. The Gross Domestic Product of a country can be defined as the total monetary value of the goods and services produced within its borders in a year. - None. GDP, volume annual growth rates in percentage, 2019 archive. 1947 - 2021. Export entire page or individual visualizations to Excel (.xlsx), PowerPoint (.pptx), PDF or image (.png).