Goods and services expense in United Kingdom
United Kingdom: Goods and services expense was 161.88 billion current LCU in 2024. ◆ Volatile
Goods and services expense in United Kingdom, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
United Kingdom recorded 161.88 billion current LCU for goods and services expense in 2024. That is the highest value across all 53 years on record.
The figure is up 6.1% on the previous year and up 64.8% over ten years.
Over the whole period, goods and services expense in United Kingdom peaked at 161.88 billion current LCU in 2024 and was at its lowest, 3.58 billion current LCU, in 1972.
United Kingdom ranks 54th of 155 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.37 billion current LCU | 3.58 billion current LCU | 12.36 billion current LCU | 8 |
| 1980s | 23.03 billion current LCU | 15.80 billion current LCU | 29.02 billion current LCU | 10 |
| 1990s | 37.32 billion current LCU | 29.67 billion current LCU | 55.80 billion current LCU | 10 |
| 2000s | 59.09 billion current LCU | 39.52 billion current LCU | 84.74 billion current LCU | 10 |
| 2010s | 95.49 billion current LCU | 84.79 billion current LCU | 109.58 billion current LCU | 10 |
| 2020s | 149.84 billion current LCU | 134.00 billion current LCU | 161.88 billion current LCU | 5 |
Countries ranked near United Kingdom
More public sector data for United Kingdom
- Arms imports 643.00 million SIPRI trend indicator values (2024)
- Tax revenue 26.9% (2024)
- Taxes on income, profits and capital gains 40.6% (2024)
- Taxes on goods and services 31.1% (2024)
- Net investment in nonfinancial assets 2.4% (2024)
- Net lending (+) / net borrowing (-) -6.9% (2024)
- Interest payments 8.3% (2024)
- Grants and other revenue 5.6% (2024)
- Interest payments 7.8% (2023)
- Other taxes 4.9% (2024)
Frequently asked questions
- What is goods and services expense in United Kingdom?
- Goods and services expense in United Kingdom was 161.88 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest goods and services expense recorded in United Kingdom?
- The highest recorded value was 161.88 billion current LCU in 2024.
- What is the lowest goods and services expense recorded in United Kingdom?
- The lowest recorded value was 3.58 billion current LCU in 1972.
- How does United Kingdom rank for goods and services expense?
- United Kingdom ranks 54th out of 155 countries with data for 2024.
- Is goods and services expense rising or falling in United Kingdom?
- Over the last ten years it is up 64.8%. The long-run trend across the full record is volatile.
- Where does this United Kingdom data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Goods and services expense (current LCU). Statizoid updates them automatically from the source API.
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CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.