The UK economy

Share of crude oil imports in Brazil 2024, by country of origin In 2024, the crude oil production in the UK amounted to 653,000 barrels per day. This figure also includes crude oil volumes meant for transshipment or in transit to other destinations, like Belgium and Germany. As an exporter, the UK sold more crude oil to the Netherlands than any other country. In 2024, crude oil and NGL imports in the UK totaled around 41.9 million metric tons.

United Kingdom – statistics & facts

In 2024, some 16.2 million metric tons of crude oil were imported from the U.S. The United States is the main supplier of crude oil and natural gas liquids for the United Kingdom. Quarterly GDP growth in selected countries 2025

Oil liquids imports in the UK 2024, by country

Although inflation fell to more usual levels by 2024, prices in the UK had already increased by over 20 percent relative to the start of the crisis. Like many countries, the UK has only recently recovered from a period of elevated inflation, which saw the CPI rate reach 9.1 percent in 2022, and 7.3 percent in 2023. Forecast for GDP growth, inflation, and unemployment in the UK 2026 In the second quarter of 2020, at the height of the COVID-19 pandemic, the UK economy shrank by around 20 percent.

Inflation

• Between 2021 and 2023, inflation surged in the UK, reaching a 41-year-high of 11.1 percent in October 2022.
• In 2026, the average annual inflation rate for the United Kingdom is expected to be 2.3 percent, with the average rate for 2027 predicted to fall to twopercent.
• Inflation in the UK increased at a faster rate than expected in 2025, with the rate revised upwards from earlier predictions at the start of that year.
• With the UK’s population generally concentrated in England, most English regions have larger populations than the constituent countries of Scotland, Wales, and Northern Ireland, which had populations of 5.5 million, 3.2 million, and 1.9 million respectively.
• This statistic is using original data from the Government Digital Service and includes copyright material from © Crown, licensed under the Open Government License v3.0
• In 2024, the crude oil production in the UK amounted to 653,000 barrels per day.

Data is provisional and was produced under processes which are under development and so the statistics should be considered experimental. By 2030, the projected UK oil production is set to fall to some 21.1 million metric tons of oil equivalent. The UK has begun decommissioning many of its North Sea oil platforms casino not on GamStop and will continue doing so in the coming years.

This statistic is using original data from the Office for National Statistics and includes copyright material from © Crown, licensed under the Open Government License v3.0. This suggests the UK economy’s struggles with productivity are not only stagnating but getting worse. Less than a year after implementing cuts to Winter Fuel, the government performed a U-Turn on the issue, and also held back on more significant cuts to welfare. Age distribution of the population in Italy 2025, by macro-region Age distribution of the population in Italy 2025, by region As of 2024, the region with the oldest median age in the UK was South West England, at 43.7 years, compared with 35.7 in London, the region with the youngest median age.