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United Kingdom

United Kingdom of Great Britain and Northern Ireland; note - the island of Great Britain includes England, Scotland, and Wales

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$1.211 trillion (2023 est.)

expenditures

$1.442 trillion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$1.041 trillion (2022 est.)

Exports 2023

$1.078 trillion (2023 est.)

Exports 2024

$1.117 trillion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$1.1 trillion (2022 est.)

Imports 2023

$1.114 trillion (2023 est.)

Imports 2024

$1.158 trillion (2024 est.)

Industries

machine tools, electric power equipment, automation equipment, railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, petroleum, paper and paper products, food processing, textiles, clothing, other consumer goods

Labor force

35.359 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2023

138.6% of GDP (2023 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0.1% of GDP (2022 est.)

Remittances 2023

0.1% of GDP (2023 est.)

Remittances 2024

0.1% of GDP (2024 est.)

Exchange rates

Currency

British pounds (GBP) per US dollar -

Exchange rates 2020

0.78 (2020 est.)

Exchange rates 2021

0.727 (2021 est.)

Exchange rates 2022

0.811 (2022 est.)

Exchange rates 2023

0.805 (2023 est.)

Exchange rates 2024

0.782 (2024 est.)

Economic overview

high-income, non-EU European economy; global financial center and dominant service sector; sluggish growth from stringent monetary policy, reduced business investment, low productivity and participation rates; fiscal austerity in face of high public debt

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

3.8% (2022 est.)

Unemployment rate 2023

4% (2023 est.)

Unemployment rate 2024

4.2% (2024 est.)

Exports - partners

USA 14%, China 8%, Germany 8%, Netherlands 7%, Ireland 7% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 13%, USA 11%, Germany 10%, France 5%, Norway 4% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$53,000 (2022 est.)

Real GDP per capita 2023

$52,500 (2023 est.)

Real GDP per capita 2024

$52,500 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

4.8% (2022 est.)

Real GDP growth rate 2023

0.4% (2023 est.)

Real GDP growth rate 2024

1.1% (2024 est.)

Agricultural products

milk, wheat, sugar beets, barley, potatoes, chicken, rapeseed, pork, beef, oats (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

cars, gold, gas turbines, packaged medicine, crude petroleum (2023)

note: top five export commodities based on value in dollars

Imports - commodities

cars, gold, crude petroleum, refined petroleum, natural gas (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$70.962 billion (2022 est.)

Current account balance 2023

-$118.354 billion (2023 est.)

Current account balance 2024

-$96.634 billion (2024 est.)

Taxes and other revenues

27.4% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$3.644 trillion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

61.3% (2023 est.)

government consumption

20.5% (2023 est.)

investment in inventories

-0.4% (2023 est.)

investment in fixed capital

17.6% (2023 est.)

exports of goods and services

32% (2023 est.)

imports of goods and services

-33.1% (2023 est.)

Population below poverty line

18.6% (2017 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

8.7% of household expenditures (2023 est.)

on alcohol and tobacco

3% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

7.9% (2022 est.)

Inflation rate (consumer prices) 2023

6.8% (2023 est.)

Inflation rate (consumer prices) 2024

3.3% (2024 est.)

Industrial production growth rate

-0.5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$3.582 trillion (2022 est.)

Real GDP (purchasing power parity) 2023

$3.596 trillion (2023 est.)

Real GDP (purchasing power parity) 2024

$3.636 trillion (2024 est.)

Youth unemployment rate (ages 15-24)

male

14.9% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

12.4% (2024 est.)

female

9.7% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$176.41 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$177.915 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$174.598 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

16.7% (2024 est.)

services

72.8% (2024 est.)

agriculture

0.6% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

3% (2021 est.)

highest 10%

24.6% (2021 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2021

32.4 (2021 est.)