Five facts about GDP

Gross Domestic Product is the standard measure of the size and health of a country’s economy. We have five facts which will tell you more about it:

1. The estimated value of the UK’s Gross Domestic Product (GDP) in 2015 is £1.8 trillion.

Percentage change in GDP, 2005 to 2015, UK

Source: Gross Domestic Product, preliminary estimate: Oct to Dec 2016
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2. GDP per head of UK population was valued in 2015 at £28,142

Source: Visual.ONS, What is GDP?
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3. The UK has the 5th highest GDP in the world and the 4th highest among the G7 countries

Source: World Bank and OECD

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4. World events such as the London 2012 Olympics had an effect on the UK’s GDP. Growth was 1.1% in Jul to Sept of 2012 – the highest for nearly seven years.

Source: Visual.ONS, GDP and special events in history
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5. GDP is an average of all of the UK’s output (production), expenditure, and income. This is because takes a few years for all of the final data to come through from surveys and other sources; when this data is finalised all three measures equal each other.

Source: ONS, United Kingdom economic accounts time series dataset
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