United Kingdom GDP Growth Rate

The Gross Domestic Product (GDP) in the United Kingdom expanded 1.10 percent in the third quarter of 2021 over the previous quarter. GDP Growth Rate in the United Kingdom averaged 0.59 percent from 1955 until 2021, reaching an all time high of 17.60 percent in the third quarter of 2020 and a record low of -19.40 percent in the second quarter of 2020. The services sector is the most important and account for 79 percent of United Kingdom’s GDP. The biggest segments within services are: government, education and health (19 percent of total GDP); real estate (12 percent); professional, scientific and technical activities and administrative and support services (12 percent); wholesale and retail trade (11 percent); and financial and insurance (8 percent). Industry accounts for 21 percent of the GDP and the largest segments within this sector are: manufacturing (10 percent of total GDP) and construction (6 percent). The Agriculture sector accounts for only 1 percent of GDP. Composition of the GDP on the expenditure side: household consumption (65 percent), government expenditure (20 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 28 percent of GDP while imports account for 30 percent, subtracting 2 percent from GDP. This page provides the latest reported value for — United Kingdom GDP Growth Rate — plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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