UK suffered worst hit to GDP from Brexit-Covid double whammy
Britain left the EU in January 2020, while Covid lockdowns hit the country in March of that year. As a result, the UK took a -10.3% blow to GDP in 2020 - greater than the US, Canada, Germany, and other G7 nations.
0.6
1
1.7
0.9
1.6
2.9
1
0.7
2.3
1.2
0.8
1.9
1.8
3
2.3
2.7
1.6
1.7
2.7
2.5
2.7
1.6
1.1
0.8
0.6
1.4
3
1.9
2.1
1
0.4
−0.4
1.6
2.6
−5
−7.6
−4.1
−8.9
−4.2
−10.3
−2.2
5.3
6.8
3.7
8.9
2.7
8.6
6.1
3.8
2.6
1.4
4.7
1.2
4.8
2.5
1.2
1.1
−0.3
0.7
1.7
0.3
2.9
1.3
1.1
0
0.7
0.3
1.1
2.8
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
IMF data: real GDP growth, annual percentage change. Data as of October 2024.
