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Monday, October 8, 2012

UK Real GDP 1830–1918

Below are Angus Maddison’s figures for real UK GDP from 1830 to 1918.

In turn, Maddison uses Deane (1968), Harley (1992) and Feinstein (1972) for his estimates:
Year | GDP* | Growth Rate
Millions of international Geary-Khamis dollars

1830 | 42228 |
1831 | 44249 | 4.78%
1832 | 43800 | -1.01%
1833 | 44249 | 1.02%
1834 | 46046 | 4.06%
1835 | 48517 | 5.36%
1836 | 50314 | 3.70%
1837 | 49640 | -1.33%
1838 | 52336 | 5.43%
1839 | 54806 | 4.72%
1840 | 53234 | -2.87%
1841 | 52111 | -2.11%
1842 | 50988 | -2.15%

1843 | 51886 | 1.76%
1844 | 55031 | 6.06%
1845 | 57951 | 5.31%
1846 | 61770 | 6.59%
1847 | 62219 | 0.72%
1848 | 62893 | 1.08%
1849 | 64016 | 1.78%
1850 | 63342 | -1.05%
1851 | 66037 | 4.25%
1852 | 67160 | 1.70%
1853 | 69631 | 3.68%
1854 | 71428 | 2.58%
1855 | 71203 | -0.31%
1856 | 76370 | 7.26%
1857 | 77717 | 1.76%
1858 | 77942 | 0.28%
1859 | 79964 | 2.59%
1860 | 81760 | 2.25%
1861 | 84007 | 2.75%
1862 | 84680 | 0.80%
1863 | 85354 | 0.79%
1864 | 87600 | 2.63%
1865 | 90296 | 3.08%
1866 | 91644 | 1.49%
1867 | 90745 | -0.98%
1868 | 93665 | 3.22%
1869 | 94339 | 0.72%
1870 | 100180 | 6.19%
1871 | 105570 | 5.38%
1872 | 105795 | 0.21%
1873 | 108266 | 2.33%
1874 | 110063 | 1.66%
1875 | 112758 | 2.45%
1876 | 113881 | 0.99%
1877 | 115004 | 0.99%
1878 | 115454 | 0.39%
1879 | 115004 | -0.39%
1880 | 120395 | 4.69%
1881 | 124663 | 3.54%
1882 | 128257 | 2.88%
1883 | 129155 | 0.70%
1884 | 129380 | 0.17%
1885 | 128706 | -0.52
1886 | 130728 | 1.57%
1887 | 135894 | 3.95%
1888 | 141959 | 4.46%
1889 | 149596 | 5.38%
1890 | 150269 | 0.45%
1891 | 150269 | 0%
1892 | 146676 | -2.39%
1893 | 146676 | 0%

1894 | 156559 | 6.74%
1895 | 161500 | 3.15%
1896 | 168239 | 4.17%
1897 | 170485 | 1.33%
1898 | 178796 | 4.87%
1899 | 186208 | 4.14%
1900 | 184861 | -0.72
1901 | 184861 | 0%

1902 | 189578 | 2.55%
1903 | 187556 | -1.07%
1904 | 188679 | 0.58%
1905 | 194295 | 2.98%
1906 | 200808 | 3.35%
1907 | 204627 | 1.90%
1908 | 196316 | -4.06%
1909 | 200808 | 2.29%
1910 | 207098 | 3.13%
1911 | 213162 | 2.93%
1912 | 216307 | 1.47%
1913 | 224618 | 3.84%
1914 | 226864 | 0.99%
1915 | 245058 | 8.01%
1916 | 250449 | 2.19%
1917 | 252695 | 0.89%
1918 | 254268 | 0.62%
(Maddison 2003: 47, 49).
Average real GNP growth rate, 1831–1872: 2.24%
Average real GNP growth rate, 1873–1896: 1.97%
Now, unlike the US, the UK had a central bank and a lender of last resort during the 19th century.

The worst recessions were those in 1837–1840, 1891–1893 and 1908.

I have yet to find unemployment estimates to put these GDP figures into a better context.


BIBLIOGRAPHY

Deane, P. 1968. “New Estimates of Gross National Product for the United Kingdom, 1830–1914,” Review of Income and Wealth 14 (June): 95–112.

Feinstein, C. H. 1972. National Income, Expenditure and Output of the United Kingdom, 1855-1965. University Press, Cambridge.

Harley, C. Knick. 1992. “Output Growth and the British Industrial Revolution,” Economic History Review n.s. 45.4: 703–730.

Maddison, Angus. 2003. The World Economy: Historical Statistics. OECD Publishing, Paris.

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