What Was the U.K. GDP Then?
Annual Observations in Table and Graphical Format
1830 to the Present
The data from 1948 to 2010 were last updated in December 2011 to reflect the new data from UK Office of National Statistics that was published last year. There has been another revision published in 2012. The changes in new version are large and have not been explained well enough for us to use until we are satisfied that these data are an improvement. See this essay that explains the issue in more depth and a link to the old and new data. "New values for the UK GDP, are they better? To download the real and nominal GDP series from 2005, 2011 and 2012, go to Data Sets.
Gross Domestic Product (GDP) is the market value of all final goods and services produced and purchased within a country during a given time period. There are two ways to measure GDP:
- Nominal GDP is the value of production at current market prices, here measured in millions of British pounds.
- Real GDP is the value of production using a given base year prices, here presented at constant (2008) market prices measured in millions of British pounds.
The GDP Deflator is the price index used to measure changes in the overall level of prices for the goods and services that make up GDP. It is simply the ratio of nominal to real GDP times 100. It is also 100 times the ratio of nominal GDP per capita (per-capita GDP at current market prices) to real GDP per capita (per-capita GDP at constant (2008) market prices).
GDP per capita is calculated by dividing either nominal or real GDP for a given year by the population in that year. These numbers can be thought of as the average share of output per person.
These six measures can be determined for any year, or range of years, between 1830 and the present.
For additional information about the GDP, please read
"What Was the UK GDP Then? A Question-and-Answer Guide". For more in-depth information on the development of the series, please read "What Was the UK GDP Then? A Data Study" (360K PDF).Citation
Lawrence H. Officer and Samuel H. Williamson, "What Was the U.K. GDP Then?"
MeasuringWorth,
URL: http://www.measuringworth.com/ukgdp/
Please let us know if and how this discussion has assisted you in using our calculators.
