top cx logo
cx logo
Explorearrow down
search icon

UK ‘loses GDP rank as pound drops’

The plunging value of the pound has technically now seen France overtake Britain as the world’s fifth largest economy. 

In the International Monetary Fund’s classification of countries’ GDP this spring Britain was at number five and France at number six, based on the size of GDP quoted in American dollars. 
However, in a week which has seen sterling drop dramatically following UK Prime Minister Theresa May’s announcements at the Conservative Party Conference, the value of the UK’s £1,932billion GDP is now less than France’s €2,228bn. 
In dollars, the UK figure is currently worth $2,401bn while France’s is $2,479bn, while converted into euros the UK figure is now equivalent to €2,152bn. 
At the start of last week a pound was worth €1.16, but it has now dropped to €1.11 following Mrs May’s statement that EU exit clause Article 50 will be triggered before the end of March 2017, and that the UK may ask for a ‘hard Brexit’ without single market membership. 

Resident or second-home owner in France?
Benefit from our daily digest of headlines and how-to's to help you make the most of life in France
By joining the newsletter, you agree to our Terms & Conditions and Privacy Policy
See more popular articles
The Connexion Help Guides
featured helpguide
Healthcare in France*
Featured Help Guide
- Understand the French healthcare system, how you access it and how you are reimbursed - Useful if you are new to the French healthcare system or want a more in-depth understanding - Reader question and answer section Aimed at non-French nationals living here, the guide gives an overview of what you are (and are not) covered for. There is also information for second-home owners and regular visitors.
Get news, views and information from France
You have 2 free subscriber articles left
Subscribe now to read unlimited articles and exclusive content
Already a subscriber? Log in now