The country has registered 59,537 more deaths than usual since March 20, three days before the lockdown was announced.
That means the virus directly or indirectly killed 891 people per million, suggests a Financial Times analysis.
This is a higher death rate than any other country providing detailed data, including Italy and the United States.
Italy was the European country hardest hit by the virus at the start of the crisis, although the United Kingdom and the United States subsequently recorded more excess deaths.
Although the United States suffers from more than 100,000 deaths, the highest number of deaths in the world, its excess mortality rate is still lower than that of the United Kingdom, which has 328 million inhabitants.
The data used by the Financial Times came from national statistical organizations in 19 countries, including all European countries hard hit by the coronavirus.
These are the only countries for which sufficient information can be found to make appropriate comparisons.
The real number of excess deaths in the United Kingdom is the highest in Europe, with only the United States recording more globally.
Peru is the only country that has recorded a higher percentage increase in death than the United Kingdom since the start of the pandemic.
While countries like China and Russia have suffered many deaths, the overall death rate is much lower than that of the United Kingdom due to their large populations.
The government has said it is “wrong and premature” to draw conclusions at this point and has said that excessive deaths should take into account age.
Downing Street told the Financial Times: “We will of course learn from our response to this virus, but these must be drawn from accurate international analysis in the future. “
The newspaper said its analysis showed that the rate of excessive deaths in the UK is still the highest in the world, whether young people are excluded or the focus is only on retirees.