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Annual GDP fell by 9.9% in 2020, the largest yearly fall on record

Gross domestic product (GDP) measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy.

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Annual average GDP fell by 9.9% in 2020, with output falling by 9.1%, the largest annual decline on record. Within output, all four sub-sectors saw annual declines:

  1. services fell by 8.9%
  2. production fell by 8.6%
  3. construction fell by 12.5%
  4. agriculture fell by 9.4%


GDP monthly estimate, UK: December 2020

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