FACTOID # 19: Cheap sloppy joes: Looking for reduced-price lunches for schoolchildren? Head for Oklahoma!
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
 
WHAT'S NEW
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > Economy of the United Kingdom
Economy of United Kingdom
Currency British Pound (GBP)
Fiscal year 6 April - 5 April
Trade organisations EU, BCN, OECD and WTO
Statistics
GDP (PPP) $2.772 trillion(2007 est.) (5th)
GDP growth 3.1% (2007 est.)
GDP per capita $45,575 (2007 est. nom.) (12th)
GDP by sector agriculture (1%), industry (26%), services (73%)
Inflation (CPI) 2.3% (2006 est.)[1]
Population
below poverty line
14% (2006 est.)
Labour force 31 million (includes unemployed) (2007 est.)
Labour force
by occupation
Services (81%), industry (18%) and agriculture (1%) (excludes unemployed) (2007)
Unemployment 5.4% (2007)
Main industries machine tools, industrial equipment, scientific equipment, shipbuilding, aircraft, motor vehicles and parts, electronic machinery, computers, processed metals, chemical products, coal mining, oil production, paper, food processing, textiles, clothing and other consumer goods.
External
Exports $470 billion (2007 est.)
Main export partners USA 15%, Germany 11%, France 10%, Ireland 7%, Netherlands 6%, Belgium 6%, Spain 5%, Italy 4% (2007)
Imports $600 billion (2007 est.)
Main import partners Germany 14%, USA 9%, France 8%, Netherlands 7%, Belgium 6%, Italy 5%, The People's Republic of China 4%, Ireland 4%
Public finances
Public debt $864 billion (2007)
Revenues $0.97 trillion (2007)
Expenses $1.04 trillion (2007)
Economic aid $8 billion
Main data source: CIA World Factbook
All values, unless otherwise stated, are in US dollars
This box: view  talk  edit

The economy of the United Kingdom is the fifth largest in the world in terms of market exchange rates and the sixth largest by purchasing power parity (PPP). It is the second largest economy in Europe after Germany's. It's GDP PPP per capita in 2007 is the 22th highest in the world. GBP redirects here. ... is the 96th day of the year (97th in leap years) in the Gregorian calendar. ... is the 95th day of the year (96th in leap years) in the Gregorian calendar. ... The Commonwealth of Nations as of 2008. ... The Organisation for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... -1... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... PPP of GDP for the countries of the world (2003). ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... Map of countries by 2006 GDP (nominal) per capita (IMF, October 2007). ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... Motto: (traditional) In God We Trust (official, 1956–present) Anthem: The Star-Spangled Banner Capital Washington, D.C. Largest city New York City Official language(s) None at the federal level; English de facto Government Federal Republic  - President George W. Bush (R)  - Vice President Dick Cheney (R) Independence - Declared - Recognized... In the technical terminology of political science the PRC was a communist state for much of the 20th century, and is still considered a communist state by many, though not all, political scientists. ... USD redirects here. ... World map of GDP (Nominal and PPP). ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... PPP of GDP for the countries of the world (2003). ... For other uses, see Europe (disambiguation). ... PPP of GDP for the countries of the world (2003). ... This article includes two lists of countries of the world[1] sorted by their gross domestic product (GDP) at purchasing power parity (PPP) per capita, the value of all final goods and services produced within a nation in a given year divided by the average population for the same year. ...


The United Kingdom is one of the world's most globalised countries. The capital, London (see Economy of London), is one of major financial centres of the world, along with New York City, Hong Kong and Singapore.[1] Globalization Index is a list of countries by A.T. Kearney/Foreign Policy Magazine according to Globalization criteria. ... This article is about the capital of England and the United Kingdom. ... Bishopsgate, in the City of London. ... This article is about a city with economic importance. ... New York, New York and NYC redirect here. ...


The British economy is made up (in descending order of size) of the economies of England, Scotland, Wales and Northern Ireland. The UK became a member state of the European Community, in 1973, and ratified the Maastricht Treaty making it a European Union state, at the inception of the EU in 1993. The Economy of England is the largest of the four economies of the United Kingdom. ... The headquarters of the Bank of Scotland, located on the Mound in Edinburgh. ... The Economy of Wales ranks as the smallest of the four economies of the United Kingdom in terms of GDP(2002). ... The economy of Northern Ireland is the smallest of the four Home Nations economies of the United Kingdom. ... The European Community (EC) was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ... The Maastricht Treaty (formally, the Treaty of European Union, TEU) was signed on February 7, 1992 in Maastricht, Netherlands after final negotiations in December 1991 between the members of the European Community and entered into force on November 1, 1993 during the Delors Commission. ...


In the 1980s, under the Government of Margaret Thatcher, most state-owned enterprises in the industrial and service sectors, which since the 1940s had been nationalised, were privatised. The British Government now owns very few industries or businesses - Royal Mail is one example. Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, PC, FRS (née Roberts; born 13 October 1925) served as British Prime Minister from 1979 to 1990 and leader of the Conservative Party from 1975 until 1990, being the first and only woman to hold either post. ... The 1940s decade ran from 1940 to 1949. ... Nationalization is the act of taking assets into state ownership. ... Privatization (sometimes privatisation, denationalization, or — especially in India — disinvestment) is the process of transferring property, from public ownership to private ownership. ... A logo of Her Majestys Government. ... Royal Mail is the national postal service of the United Kingdom. ...


The British economy has in recent years seen the longest period of sustained economic growth for more than 150 years, having grown in every quarter since 1992. It is one of the strongest EU economies in terms of inflation, interest rates and unemployment, all of which remain relatively low. Consequently, the United Kingdom, according to the International Monetary Fund, now has the seventh highest level of GDP per capita in the European Union in terms of purchasing power parity, after Luxembourg, Ireland, the Netherlands, Denmark, Austria and Finland. However, in common with the economies of other English-speaking countries, it has higher levels of income inequality than many European countries. The UK also has the world's third largest current account deficit, despite significant oil revenues. An interest rate is the price a borrower pays for the use of money he does not own, and the return a lender receives for deferring his consumption, by lending to the borrower. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... IMF redirects here. ... Gross Domestic Product (GDP), a calculation method in national accounting (see Measures of national income and output) is defined as the total value of final goods and services produced within a countrys borders in a year, regardless of ownership. ... Definitions of the Anglosphere vary: Countries in which English is the first language of a large fraction of the population are shown in blue. ... Income inequality metrics or income distribution metrics are techniques used by economists to measure the distribution of income among members of a society. ... Blue = countries in surplus; Red = countries in deficit This is a list of countries and territories by current account balance, in millions of U.S. dollars, equivalence based on The World Factbook ([1]). Most data are 2006 estimates. ...


Although the UK's "labour productivity per person employed" has been progressing well over the last two decades and has overtaken productivity in Germany, it lags around 20% behind France's level, where workers have a 35-hour working week.[2] The UK's "labour productivity per hour worked" is currently on a par with the average for the "old" EU (15 countries).[3]


The United Kingdom currently ranks 16th on the Human Development Index.

Contents

Recent economic growth

The most recent official figure, from the ONS, for annual UK GDP growth is 3.1% (2007 compared to 2006). [2] [3] Office for National Statistics logo The Office for National Statistics (ONS) is the United Kingdom government executive agency charged with the collection and publication of statistics related to the economy, population and society of the United Kingdom at national and local levels. ...


According to official Treasury estimates, British GDP grew by 2¾% in 2006 and is expected to grow by 3% in 2007. Growth is expected to slow slightly in 2008 to between 2% and 2½%. The forecast for 2009 and 2010 is for the economy to return to trend growth of between 2½% and 3%. [4] The new eastern entrance to HM Treasury HM Treasury, in full Her Majestys Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the UK Governments financial and economic policy. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...


In October 2007, the IMF forecast British GDP to grow by 3.1% in 2007 and 2.3% in 2008. [4] The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ...


Macroeconomic trend

This is a chart of trend of gross domestic product of United Kingdom at market prices estimated by the International Monetary Fund with figures in millions of British Pounds Sterling.

Year Gross domestic product US dollar exchange[5] Inflation index (2000=100)
1925 4,466 £0.21
1930 4,572 £0.21
1935 4,676 £0.20
1940 7,117 £0.26
1945 9,816 £0.25
1950 13,162 £0.36
1955 19,264 £0.36
1960 25,678 £0.36
1965 35,781 £0.36
1970 51,515 £0.42
1975 105,773 £0.45
1980 230,695 £0.42 43
1985 354,952 £0.77 60
1990 557,300 £0.56 76
1995 718,383 £0.63 92
2000 953,576 £0.65 100
2005 1,209,334 £0.54 107

For purchasing power parity comparisons, the US Dollar is exchanged at £0.66.


Industries

Agriculture, hunting, forestry, and fishing

Agriculture is intensive, highly mechanised, and efficient by European standards, producing about 60% of food needs with less than 2% of the labour force.[citation needed] It contributes around 2% of GDP.[citation needed] Around two-thirds of the production is devoted to livestock, one-third to arable crops.[citation needed] The main crops that are grown are wheat, barley, oats, oilseed rape, maize for animal feeds, potatoes and sugar beet. New crops are also emerging, such as linseed for oil and hemp for fibre production.[6] The main livestock which are raised are cattle, chickens (the UK is the second largest poultry producer in Europe after France) and sheep.[citation needed] Agriculture is subsidised by the European Union's Common Agricultural Policy. Intensive agriculture is an agricultural production system characterized by the significant use of inputs, and seeking to maximize the production. ... Mechanised agriculture is the process of using agricultural machinery in order to massivly increase output. ... For other uses, see Europe (disambiguation). ... Sheep are commonly bred as livestock. ... Agronomy is the science of utilizing plants for food, fuel, feed, and fiber. ... Ducks amongst other poultry The Poultry-dealer, after Cesare Vecellio Poultry is the category of domesticated birds kept for meat, eggs, and feathers. ... The Common Agricultural Policy (CAP) is a system of European Union agricultural subsidies and programmes. ...


The UK retains a significant, although vastly reduced, fishing industry. Its fleets bring home fish ranging from sole to herring. Kingston upon Hull, Grimsby, Fleetwood, Great Yarmouth, Peterhead, Fraserburgh, and Lowestoft are among the coastal towns that have fishing industries. The soles are flatfishes of various families. ... Species Clupea alba Clupea bentincki Clupea caspiopontica Clupea chrysotaenia Clupea elongata Clupea halec Clupea harengus Clupea inermis Clupea leachii Clupea lineolata Clupea minima Clupea mirabilis Clupea pallasii Clupea sardinacaroli Clupea sulcata Herrings are small, oily fish of the genus Clupea found in the shallow, temperate waters of the North Atlantic... Hull or Kingston upon Hull is a British city situated on the north bank of the Humber estuary. ... For other uses, see Grimsby (disambiguation). ... , Fleetwood is a town within the Wyre district of Lancashire, England, lying at the northwest corner of the Fylde. ... , Great Yarmouth, often known to locals as Yarmouth, is a coastal town in Norfolk, England. ... , There is also a suburb of Adelaide named Peterhead, South Australia Peterhead called Ceann Phadraig in Gaelic is a town in Scotland with a population of approximately 18,000. ... , Fraserburgh, called The Broch in Scots, is a town in Aberdeenshire, Scotland on the extreme North East corner. ... , Lowestoft (pronounced ) is a town in Suffolk, East Anglia, England, lying between the eastern edge of The Broads National Park at Oulton Broad and the North Sea. ... For the computer security term, see Phishing. ...


The Blue Book 2006 reports that this sector added gross value of £10,323 million to the UK economy in 2004.[7] Office for National Statistics logo The Office for National Statistics (ONS) is the United Kingdom government executive agency charged with the collection and publication of statistics related to the economy, population and society of the United Kingdom at national and local levels. ...


Production

UK exports of goods in 2005
UK exports of goods in 2005

Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 61 KB, MIME type: image/png)This bubble map shows the global distribution of UK exports of goods in 2005 as a percentage of the top market (USA - £30,914,000,000). ... Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 61 KB, MIME type: image/png)This bubble map shows the global distribution of UK exports of goods in 2005 as a percentage of the top market (USA - £30,914,000,000). ...

Mining and quarrying

The Blue Book 2006 reports that this sector added gross value of £21,876 million to the UK economy in 2004.[7]


Manufacturing

In 2003, manufacturing industry accounted for 16% of national output in the UK and for 13% of employment, according to the Office for National Statistics. This is a continuation of the steady decline in the importance of this sector to the British economy since the 1960s, although the sector is still important for overseas trade, accounting for 83% of exports in 2003. The regions with the highest proportion of employees in manufacturing were the East Midlands and West Midlands (at 19 and 18% respectively). London had the lowest at 6%.


Although the manufacturing sector's share of both employment and the UK's GDP has steadily fallen since the 1960s, data from the OECD shows that manufacturing output in terms of both production and value has steadily increased since 1945. This is a trend common in many mature Western economies. Heavy industry, employing many thousands of people and producing large volumes of low-value goods (such as steelmaking) has either become highly efficent (producing the same amount of output from fewer manufacturing sites employing fewer people- for example, productivity in the UK's steel industry increased by a factor of 8 between 1978 and 2006 [8]) or has been replaced by smaller industrial units producing high-value goods (such as the aerospace and electronics industries). The 1960s decade refers to the years from the beginning of 1960 to the end of 1969. ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... Year 1945 (MCMXLV) was a common year starting on Monday (link will display the full calendar). ... The West is a generic term for western regions for many countries and regions: The Western United States Western Australia Western Canada Canada West The term can also mean: The West Australian, a newspaper The Western world, or Western culture or civilization The West: the phenomenon of westernism, the book... Heavy industry does not have a single fixed meaning compared to light industry. ... Steelmaking is the second step in producing steel from iron ore. ... Look up aerospace in Wiktionary, the free dictionary. ... Surface mount electronic components Electronics is the study of the flow of charge through various materials and devices such as semiconductors, resistors, inductors, capacitors, nano-structures and vacuum tubes. ...


Engineering and allied industries comprise the single largest sector, contributing 30.8% of total Gross Value Added in manufacturing in 2003. Within this sector, transport equipment was the largest contributor, with 8 global car manufacturers being present in the UK – BMW (MINI, Rolls-Royce), Ford (Premier Automotive Group), General Motors (Vauxhall Motors), Honda, Nissan, Toyota and Volkswagen (Bentley) with a number of smaller, specialist manufacturers (including Lotus and Morgan) and commercial vehicle manufacturers (including Leyland Trucks, LDV, Alexander Dennis, JCB, Manganese Bronze and Case-New Holland) also being present. A range of companies like Brush Traction and Hunslet manufacture railway locomotives and other related components. Associated with this sector are the aerospace and defence equipment industries. The UK manufactures a broad range of equipment, with the sector being dominated by BAE Systems (which manufactures civil and defence aerospace, land and marine equipment) VT Group (one of the world's largest builder's of warships), GKN and Rolls Royce who manufacture aerospace engines and power generation systems. Commercial shipbuilders include Harland and Wolff, Cammell Laird, Abels, Barclay Curle and Appledore. Companies such as Fairline Boats and Sunseeker are major builders of private motor yachts. The British motor industry is historically centred around Coventry in the West Midlands. ... For the new MINI, see MINI (BMW). ... Rolls-Royce Motor Cars is a BMW subsidiary responsible for the manufacture of the Rolls-Royce Phantom. ... The Premier Automotive Group (PAG), is a group within the Ford Motor Company that oversaw the business operations of ip in Energy and Environmental Design]] Certification from the U.S. Green Building Council. ... Vauxhall Motors is a UK car company. ... Bentleys winged B badge and hood ornament 1929 Blower Bentley from the Ralph Lauren collection. ... Lotus Logo with monogram of its founder, Anthony Colin Bruce Chapman Lotus Cars is a British manufacturer of sports and racing cars based at Hethel, Norfolk, England. ... The Morgan Motor Company is a British motor car manufacturer. ... Leyland Trucks, the British truck manufacturer, emerged from the bankruptcy of DAF NV as the result of a management buy-out. ... For other uses see LDV LDV Limited is a British van manufacturer, based in the Ward End area of Birmingham, and is a wholly owned subsidiary of the Russian GAZ group. ... Alexander Dennis Limited (formerly known as TransBus International) is the largest bus builder in the United Kingdom and one of the largest in the world. ... JCB is a family business named after its founder J.C.Bamford, producing distinctive yellow-and-black engineering vehicles, diggers (Backhoes) and excavators. ... Manganese Bronze Holdings PLC is an engineering company based in Coventry, England. ... Brush Traction works in Loughborough, United Kingdom. ... Irish Mail is typical of many small engines built at Hunslet for use in quarries The Hunslet Engine Company is a British locomotive-building company founded in 1864 at Jack Lane, Hunslet, Leeds, West Yorkshire, England by John Towlerton Leather, a civil engineering contractor, who appointed James Campbell (son of... , BAE Systems plc (BAE) is a British defence and aerospace company headquartered at Farnborough, England, UK, that has worldwide interests, particularly in North America through its subsidiary BAE Systems Inc. ... VT Group plc is the company formerly known as Vosper Thornycroft. ... USS Port Royal (CG-73), a Ticonderoga class cruiser. ... GKN plc is a British engineering company formerly known as Guest, Keen and Nettlefolds and tracing its origins back to 1759 and the birth of the industrial revolution. ... Rolls-Royce plc (also known as Rolls-Royce Aero Engines) is the second-largest aircraft engine maker in the world, behind General Electrics GE Aircraft Engines division. ... Harland and Wolff Heavy Industries is a diversified Heavy industrial company specialising in Shipbuilding, Ship breaking, Offshore construction, Modular construction, Civil, Marine engineering and Project management, located in Belfast, Northern Ireland. ... Cammell Laird logo Cammell Laird, one of the most famous names in British shipbuilding during the nineteenth and twentieth centuries, came about following the merger of Laird, Son & Co. ... Seawind Barclay Curle is a British shipbuilding company. ... Appledore shipyard The shipyards cranes Appledore Shipbuilders is a shipbuilder in Appledore, North Devon. ... Sunseeker is a UK high-performance, luxury motor yacht manufacturer. ...


Another important component of Engineering and allied industries is electronics, audio and optical equipment, with the UK having a broad base of domestic firms like Amstrad, Alba, ARM, Dyson, Glen Dimplex, Invensys, and Linn, alongside a number of foreign firms manufacturing a wide range of TV, radio and communications products, scientific and optical instruments, electrical machinery and office machinery and computers. Amstrad is a manufacturer of electronics based in Brentwood in Essex, England and founded in 1968 by Sir Alan Michael Sugar in the UK. The name is a contraction of Alan Michael Sugar Trading. ... Alba PLC is a consumer electronics company in the United Kingdom. ... The entrance to ARMs headquarters in Cherry Hinton, Cambridge ARM (Advanced RISC Machines) Ltd is a microprocessor design company headquartered in England, founded in 1990 by Hermann Hauser. ... DC07 Dyson Vacuum cleaner DC14 low reach Dyson Vacuum cleaner Dyson is a British company best known for producing a popular vacuum cleaner that uses cyclonic separation. ... Glen Dimplex are an Irish-based consumer electronics firm. ... Invensys plc is a British engineering company, headquartered in London, England. ... Linn Products is a Scottish company, based in Glasgow, that manufactures hi-fi, home theatre, and multi-room audio systems. ...


Chemicals and chemical-based products are another important contributor to the UK's manufacturing base. Within this sector, the pharmaceutical industry is particularly successful, with the world's second and third largest pharmaceutical firms (GlaxoSmithKline and AstraZeneca respectively) being based in the UK and having major research and development and manufacturing facilities there. GlaxoSmithKline plc (LSE: GSK NYSE: GSK) is a United Kingdom based pharmaceutical, biological, and healthcare company. ... AstraZeneca PLC (LSE: AZN, OMX: AZN), is a large Anglo-Swedish pharmaceutical company formed on 6 April 1999 by the merger of Swedish Astra AB and British Zeneca Group PLC. Zeneca was part of Imperial Chemical Industries prior to a demerger in 1993. ...


Other important sectors of the manufacturing industry include food, drink, tobacco, paper, printing, publishing and textiles. The UK is also home to three of the world's biggest brewing companies: Diageo, Sabmiller and Scottish and Newcastle, other major manufacturing companies such as Unilever, Cadbury Schweppes, Tate & Lyle, British American Tobacco, Imperial Tobacco, EMAP, HarperCollins, Reed Elsevier, Ben Sherman, Burberry, French Connection, Reebok, Pentland Group and Umbro being amongst the largest present. Diageo plc (LSE: DGE, NYSE: DEO) is the largest multinational beer, wine and spirits company in the world. ... SABMiller (South African Breweries - Miller) (LSE: SAB, JSE: SAB,Official site) is one of the world’s largest brewers, with brewing interests and distribution agreements in over 60 countries across six continents. ... Scottish & Newcastle is one of the worlds leading brewers, and the largest British brewing company (unless London-based SABMiller, which does very little business in the UK, is counted as British). ... Unilever is a widely listed [2] [3] multi-national corporation, formed of Anglo-Dutch parentage, that owns many of the worlds consumer product brands in foods, beverages, cleaning agents and personal care products. ... Cadbury Schweppes plc (Cadbury Trebor Bassett), (NYSE: CSG) is a confectionery and beverage company with its headquarters in London. ... A tin of Lyles Golden Syrup Tate & Lyle PLC is a UK based multinational food manufacturer and is listed on the London Stock Exchange under the symbol TATE. It is a major producer of refined sugar, starches, animal feed and other food ingredients with global operations. ... British American Tobacco Plc (LSE: BATS, AMEX: BTI, KLSE: BAT) is the second largest listed tobacco company in the world. ... Imperial Tobacco Group PLC (LSE: IMT) is the largest tobacco manufacturer in the UK (the second largest UK-based tobacco company by global sales after British American Tobacco). ... EMAP plc (LSE: EMA) is a British media company, specialising in the production of magazines, and the organization of business events and conferences. ... HarperCollins is a publishing company owned by News Corporation. ... Reed Elsevier is a leading global publisher and information provider. ... Ben Sherman is a British clothing company, producing shirts, suits, shoes, accessories and other items. ... Burberry is a British luxury fashion house, manufacturing clothing and other apparel. ... For other uses, see The French Connection. ... Rbk redirects here. ... This article or section does not cite its references or sources. ... Umbro (LSE: UMB) is an internationally recognised football brand based in Cheadle, Greater Manchester, England. ...


The Blue Book 2006 reports that this sector added gross value of £147,469 million to the UK economy in 2004.[7]


Manufacturing is an important sector of the modern British economy and there is a considerable amount of published research on the subject of the factors affecting its growth and performance. Of late, such things as increases in taxation and regulation have tended to diminish the favourableness of the political-legal environment for UK industry. Within manufacturing, British firms and industries have often lagged behind their overseas competitors in terms of productivity and various other key performance measures. However, Britain – the birthplace of the Industrial Revolution – continues to be one of the most attractive countries in the world for direct foreign industrial investment.[9][5]


Electricity, gas and water supply

The Blue Book 2006 reports that this sector added gross value of £17,103 million to the UK economy in 2004.[7] Great Britain is expected to launch the building of new nuclear reactors to replace existing generators and to boost UK's energy reserves[10].


Construction

The Blue Book 2006 reports that this industry added gross value of £64,747 million to the UK economy in 2004.[7]


Service industries

UK exports of services in 2005
UK exports of services in 2005

The service sector is the dominant sector of the UK economy, a feature normally associated with the economy of a developed country. This means that the Tertiary sector jobs outnumber the Secondary and Primary sector jobs. Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 59 KB, MIME type: image/png)This bubble map shows the global distribution of UK exports of services in 2005 as a percentage of the top market (USA - £22,824,000,000). ... Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 59 KB, MIME type: image/png)This bubble map shows the global distribution of UK exports of services in 2005 as a percentage of the top market (USA - £22,824,000,000). ... The tertiary sector of industry, also called the service sector or the service industry, is one of the three main industrial categories of a developed economy, the others being the secondary industry (manufacturing and primary goods production such as agriculture), and primary industry (extraction such as mining and fishing). ...


Wholesale and retail trade

This sector includes the motor trade, auto repairs, personal and household goods industries. The Blue Book 2006 reports that this sector added gross value of £127,520 million to the UK economy in 2004.[7]


Hotels and restaurants

The Blue Book 2006 reports that this industry added gross value of £33,074 million to the UK economy in 2004.[7]


Transport, storage and communication

The Blue Book 2006 reports that the transport and storage industry added gross value of £49,516 million to the UK economy in 2004 while the communication industry added a gross value of £29,762 million.[7]


Financial intermediation

The City of London, one of the world's major financial centres
The City of London, one of the world's major financial centres

London is Europe's largest financial centre, with financial services based around two districts: 'The City' (the City of London) and the Docklands (particularly around Canary Wharf). The City houses the London Stock Exchange (shares and bonds), Lloyds of London (insurance), and the Bank of England. The Docklands began development in the 1980s and is now home to the Financial Services Authority, as well as several important financial institutions (such as Barclays Bank, Citigroup and HSBC). There are now over 500 banks with offices in the City and Docklands, with the majority of business in London being conducted on an international basis, with established leads in areas such as Eurobonds, Foreign exchange markets, energy futures and global insurance. The Alternative Investments Market has acted a growth market over the past decade, allowing London to also expand as an international equity centre for smaller firms. Image File history File links Metadata Size of this preview: 399 × 599 pixelsFull resolution (1066 × 1600 pixel, file size: 377 KB, MIME type: image/jpeg) File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File links Metadata Size of this preview: 399 × 599 pixelsFull resolution (1066 × 1600 pixel, file size: 377 KB, MIME type: image/jpeg) File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Motto: Domine dirige nos Latin: Lord, guide us Shown within Greater London Sovereign state Constituent country Region Greater London Status City and Ceremonial County Admin HQ Guildhall Government  - Leadership see text  - Mayor David Lewis  - MP Mark Field  - London Assembly John Biggs Area  - Total 1. ... This article is about the capital of England and the United Kingdom. ... Motto: Domine dirige nos Latin: Lord, guide us Shown within Greater London Sovereign state Constituent country Region Greater London Status City and Ceremonial County Admin HQ Guildhall Government  - Leadership see text  - Mayor David Lewis  - MP Mark Field  - London Assembly John Biggs Area  - Total 1. ... The 02 and Canary Wharf from the Royal Victoria Dock. ... This article needs additional references or sources for verification. ... The Source by Greyworld, in the new LSE building Paternoster Square. ... Lloyds of London is a British insurance market. ... Headquarters Coordinates , , Governor Mervyn King Central Bank of United Kingdom Currency Pound sterling ISO 4217 Code GBP Base borrowing rate 5. ... The 02 and Canary Wharf from the Royal Victoria Dock. ... 25 The North Collonade The Financial Services Authority (FSA) is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. ... Barclays Bank headquarters One Churchill Place, Canary Wharf Barclays plc (LSE: BARC, NYSE: BCS, TYO: 8642 ) is the fourth largest bank in the United Kingdom. ... Citi redirects here. ... HSBC Holdings plc (traditional Chinese: ; simplified Chinese: ; pinyin: ) (LSE: HSBA, SEHK: 0005, NYSE: HBC, Euronext: HSBC, BSX: 1077223879) is a public limited company incorporated in England and Wales, headquartered in London. ... Motto: Domine dirige nos Latin: Lord, guide us Shown within Greater London Sovereign state Constituent country Region Greater London Status City and Ceremonial County Admin HQ Guildhall Government  - Leadership see text  - Mayor David Lewis  - MP Mark Field  - London Assembly John Biggs Area  - Total 1. ... The 02 and Canary Wharf from the Royal Victoria Dock. ... This article is about the capital of England and the United Kingdom. ... A Eurobond is a bond that has been issued in one countrys currency but is traded outside of that country and in a different monetary system. ... The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. ... The International Petroleum Exchange, based in London, is one of the worlds largest energy futures and options exchanges. ... The Metropolitan Life Insurance Company is one of the largest New York based life insurance companies Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ... The Alternative Investments Market (AIM) is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the Main Market. ...


The United Kingdom had £21bn of financial exports in 2005, contributing significantly towards the Balance of Payments. The UK has had an expanding export business in financial service, which has been influenced by a mixture of unique institutions, light regulation, and a highly skilled workforce. A financial export is a business service provided by a domestic firm (regardless of ownership) to a foreign firm within the scope of financial services. ... The balance of payments is a measure of the payments that flow from one exports and imports of goods, services, and financial capital, as well financial transfers. ...


Edinburgh also has a long established financial industry, the fifth largest financial centre in Europe, with many large firms based there, including the Royal Bank of Scotland (the second largest bank in Europe), HBOS (owners of the Bank of Scotland) and Standard Life Insurance. For other uses, see Edinburgh (disambiguation). ... The Royal Bank of Scotland Plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the United Kingdom. ... Group headquarters on The Mound, Edinburgh HBOS Office at Trinity Road, Halifax HBOS plc (LSE: HBOS) is a banking and insurance group in the United Kingdom, the holding company for Bank of Scotland plc, which operates the Bank of Scotland and Halifax brands; HBOS Australia, owner of BankWest; and HBOS... Bank of Scotland plc is a commercial and clearing bank, based in Edinburgh, Scotland. ...


Leeds has the largest financial sector outside of London (in England), and is a main economic power within the north of England, With many company's based within the city due to its central locality within England. Leeds was voted 'Britain's Best City for Business' by Omis Research in 2003 It is also regarded as the fastest growing city in the UK. For other uses, see Leeds (disambiguation) and Leeds City (disambiguation). ...


Cardiff, has in recent years seen significant growth in its financial industry as have other cities in the United Kingdom with large financial districts such as Manchester and Birmingham. This article is about the capital city of Wales. ... This article is about the City of Manchester in England. ... This article is about the British city. ...


The Blue Book 2006 reports that this industry added gross value of £86,145 million to the UK economy before adjustment of financial services valued at £50,165 million in 2004.[7]


Real estate and lettings

The UK property market has been booming for the past seven years and in some areas property has trebled in value over that period. The increase in property prices has a number of causes — sustained economic growth, an expansion in household numbers (including high immigration into certain regions), low interest rates, the growth in property investment, and restriction in the supply of new housing (through planning restrictions). The phrase buy-to-let can refer either to the investment strategy of buying a residential property to be let for profit; or to a particular category of mortgage used to purchase a property for letting. ... Main article: Town and Country Planning in the United Kingdom Planning permission or planning consent is the permission required in the United Kingdom in order to be allowed to build on land, or change the use of land or buildings. ...


The UK property market initially peaked in July 2004 and had been static or falling in the capital and some other areas until late 2005. This had led many to start worrying about the possibility of a house price crash, many predicting the end of a major British property bubble. However, the property market strengthened considerably in the first half of 2006, showing particular strength in the capital. This has led many analysts to revise previously negative assessments of the market, with most now predicting continued modest growth in prices in the mid-term. [6] Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... housepricecrash. ... Many commentators believe that a British property bubble has existed since about 1998 in the British property market. ...


A house price crash would be very damaging at the present time due to record levels of household debt. There are an increasing numbers of bankruptcies and home repossessions which has worried some economists. This has led many to propose that a correction in house prices would lead much of the country into a lengthy recession. In contrast however, first time buyers who currently have assets not consisting of residential property, but with no way of attaining residential property (in some cases at all, and in others without undertaking unsustainable debt amounting to on average up to 5 times their annual salary), would be better off, and able to enter the property market. housepricecrash. ... For other uses, see Debt (disambiguation). ... Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. ...


The rapid increase in Buy to Let speculators since 2000 of has created an artificial shortage of homes. The effect has been to price many first time buyers out of the market; they have declined from around 50% of sales to 25%, virtually equal to the expansion in Buy to Let. In London a survey in 2006 found that 67% of new properties were sold to Buy to Let speculators. This and planning restriction requiring builders to use brown field sites, has led to rapid growth in one and two bedroom apartments in cities such as Manchester, Leeds and Nottingham, creating an over supply of this type of property. Banks have relaxed their lending requirements for Buy to Let buyers from 75% of the value the of property in 2003 to 85%, effectively creating a highly gear investment that relies on rising prices. The perception of a housing shortage, despite there being little evidence of any shortage of property to rent (if not buy), means that most UK buyers believe property prices will always rise and any fall only be small and temporary.


This sector includes letting of dwellings and other related business support activities. The Blue Book 2006 reports that the lettings industry added gross value of £83,037 million to the UK economy in 2004 while other real estate and business support activities added gross value of £175,333 million.[7]


Public administration and defence

The Blue Book 2006 reports that this sector added gross value of £55,280 million to the UK economy in 2004.[7]


Education

The Blue Book 2006 reports that this sector added gross value of £61,786 million to the UK economy in 2004.[7]


Health and social work

The Blue Book 2006 reports that this sector added gross value of £75,817 million to the UK economy in 2004.[7]


Other social and personal services

This sector includes value added by private households with employees and extra-territorial organisations. The Blue Book 2006 reports that this sector added gross value of £55,543 million to the UK economy in 2004.[7]


Currency

There is a debate over whether or not the UK should leave the Pound Sterling and join the Euro. The British Prime Minister, Gordon Brown, had pledged to hold a public referendum if membership meets the "five economic tests" he set as Chancellor of the Exchequer.The tests are: GBP redirects here. ... For other uses, see Euro (disambiguation). ... In the United Kingdom, the Prime Minister is the head of government, exercising many of the executive functions nominally vested in the Sovereign, who is head of state. ... For others with the same or similar names, see Gordon Brown (disambiguation). ... Elections Part of the Politics series Politics Portal This box:      A referendum (plural referendums or referenda), ballot question, or plebiscite (from Latin plebiscita, originally a decree of the Concilium Plebis) is a direct vote in which an entire electorate is asked to either accept or reject a particular proposal. ... The five economic tests are the criteria defined by the United Kingdom Government that are to be used to assess the UKs readiness to join the Eurozone and adopt the euro as its currency. ... The Chancellor of the Exchequer is the title held by the British Cabinet minister responsible for all economic and financial matters. ...

  1. Are business cycles and economic structures compatible with European interest rates on a permanent basis?
  2. If problems emerge, is there sufficient flexibility to deal with them?
  3. What impact would entry into the euro have on the UK's financial services industry?
  4. Would joining the euro create better conditions for firms making long-term decisions to invest in Britain?
  5. Would joining the euro promote higher economic growth, stability and a lasting increase in jobs?

When assessing the tests, Gordon Brown concluded that while the decision was close, the United Kingdom should not yet join the Euro. In particular, he cited fluctuations in house prices as a barrier to immediate entry. The tests will be reassessed in the future. Public opinion polls have shown that a majority of Britons have been opposed to joining the single currency for some considerable time.[11] The main opposition party, the Conservative party, are opposed to membership. The business cycle or economic cycle refers to the fluctuations of economic activity about its long term growth trend. ... Financial services is a term used to refer to the services provided by the finance industry. ... World GDP/capita changed very little for most of human history before the industrial revolution. ... In mainstream economics, the word “inflation” refers to a general rise in prices measured against a standard level of purchasing power. ... This article is about work. ... House prices fluctuate over time. ... An Opinion poll is a survey of public opinion from a particular sample or pool. ... For other uses, see Euro (disambiguation). ... Her Majestys Loyal Opposition, or the Official Opposition in the United Kingdom is the largest opposition party in the House of Commons. ... The Conservative Party, officially though less commonly known as the Conservative and Unionist Party, is a political party in the United Kingdom. ...


Exchange rates

(average for of each year), in USD (US Dollar) and EUR (euro) per GBP; and inversely: GBP per USD and EUR. (Synthetic Euro XEU before 1999). Caution: these averages conceal wide intra-year spreads. The coefficient of variation gives an indication of this. It also shows the extent to which the pound tracks the euro or the dollar. Note the effect of Black Wednesday in late 1992 by comparing the averages for 1992 with the averages for 1993. The United States dollar is the official currency of the United States. ... For other uses, see Euro (disambiguation). ... GBP may be: short for Game Boy Player the ISO currency code for the British Pound Sterling. ... Former ISO currency code for the European Currency Unit, the predecessor of the Euro. ... In probability theory and statistics, the coefficient of variation (CV) is a measure of dispersion of a probability distribution. ... In British politics and economics, Black Wednesday refers to 16 September 1992 when the Conservative government was forced to withdraw the pound from currency fix, the European Exchange Rate Mechanism (ERM) after they were unable to keep Sterling above its agreed lower limit when currency markets believed the policy was...

Year  £/USD  USD/£  C.Var    £/XEU  XEU/£ C.Var
1990 £0.5633 $1.775 £0.7161 1.397
1991 £0.5675 $1.762 £0.7022 1.424
1992 £0.5699 $1.755 £0.7365 1.358
1993 £0.6663 $1.501 £0.7795 1.283
1994 £0.6536 $1.530 £0.7742 1.292
1995 £0.6338 $1.578 £0.8200 1.220
1996 £0.6411 $1.560 £0.8029 1.245
1997 £0.6106 $1.638 £0.6909 1.447
1998 £0.6037 $1.656 £0.6779 1.475
Year  £/USD  USD/£  C.Var    £/EUR  EUR/£ C.Var
1999 £0.6185 $1.617 £0.6595 €1.516
2000 £0.6609 $1.513 £0.6099 €1.640
2001 £0.6943 $1.440 £0.6223 €1.607
2002 £0.6664 $1.501 £0.6289 €1.590
2003 £0.6123 $1.633 £0.6924 €1.444
2004 £0.5461 $1.832 2.26% £0.6787 €1.474 1.92%
2005 £0.5500 $1.820 3.47% £0.6842 €1.462 1.27%
2006 £0.5435 $1.842 3.79% £0.6821 €1.466 1.11%
2007 £0.4999 $2.001 1.97% £0.6848 €1.461 2.40%
Source: OANDA.COM Historical Currency Converter
For consistency and comparison purposes, coefficient of variation is measured on both the "per pound" ratios, although it is conventional to show the forex rates as dollars per pound and pounds per euro.

In probability theory and statistics, the coefficient of variation (CV) is a measure of dispersion of a probability distribution. ...

Regional variation

The strength of the UK economy varies from region to region. GVA, and GVA per capita is highest in London. The following table shows the GVA (2006) per capita of the 12 NUTS:2 areas, with data supplied by the Office for National Statistics [12]. The Gross value added is GDP - taxes on products + subsidies on products = GVA GVA + taxes on products - subsidies on products = GDP See also Measures of national income and output External links GVA - Gross Value Added ... This article is about the capital of England and the United Kingdom. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... The Nomenclature of Territorial Units for Statistics (NUTS) is a geocode standard for referencing the administrative division of countries for statistical purposes. ... Office for National Statistics logo The Office for National Statistics (ONS) is the United Kingdom government executive agency charged with the collection and publication of statistics related to the economy, population and society of the United Kingdom at national and local levels. ...

Rank Place GVA per capita
in pounds
1 London, England 26 192
2 South East England 21 514
3 East of England 19 599
4 Scotland 17 789
5 South West England 17 467
6 East Midlands, England 16 982
7 West Midlands, England 16 583
8 North West England 16 234
9 Yorkshire and the Humber, England 15 968
10 North East England 15 177
11 Northern Ireland 15 175
12 Wales 14 396

Two of the richest 10 areas in the European Union are in the United Kingdom. Inner London is number 1 with a GDP per capita of €65 138, and Berkshire, Buckinghamshire and Oxfordshire is number 7 with a GDP per capita of €37 379. [13] GBP redirects here. ... This article is about the capital of England and the United Kingdom. ... For other uses, see England (disambiguation). ... South East England is one of the nine official regions of England. ... The East of England is one of the nine official regions of England. ... This article is about the country. ... This article is about the region. ... The East Midlands is one of the regions of England and consists of most of the eastern half of the traditional region of the Midlands. ... For other uses, see England (disambiguation). ... The West Midlands is an official Region of England, covering the western half of the Midlands. ... For other uses, see England (disambiguation). ... -1... Yorkshire and the Humber is one of the regions of England. ... For other uses, see England (disambiguation). ... North-East England is one of the nine official regions of England and comprises the combined area of Northumberland, County Durham, Tyne and Wear and a small part of North Yorkshire. ... Northern Ireland (Irish: , Ulster Scots: Norlin Airlann) is a constituent country of the United Kingdom lying in the northeast of the island of Ireland, covering 5,459 square miles (14,139 km², about a sixth of the islands total area). ... This article is about the country. ... If it is considered as a single state, the economy of the European Unions twenty-seven member states is the worlds largest economy. ... Inner London is the name for the group of London boroughs which form the central part of Greater London and are surrounded by Outer London. ... This article or section does not cite any references or sources. ... Buckinghamshire (abbreviated Bucks) is one of the home counties in South East England. ... Oxfordshire (abbreviated Oxon, from the Latinised form Oxonia) is a county in the South East of England, bordering on Northamptonshire, Buckinghamshire, Berkshire, Wiltshire, Gloucestershire, and Warwickshire. ...


Taxation and borrowing

Taxation in the United Kingdom may involve payments to at least two different levels of government: local government and central government (HM Revenue & Customs). Local government is financed by grants from central government funds, business rates, council tax and increasingly from fees and charges such as those from on-street parking. Central government revenues are mainly income tax, national insurance contributions, value added tax, corporation tax and fuel duty. Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        Taxation in the United Kingdom may involve payments to at least two different levels of government: local government and central government (HM Revenue & Customs). ... Local governments are administrative offices that are smaller than a state or province. ... Central government or the national government (or, in federal states, the federal government) is the government at the level of the nation-state. ... Her Majestys Revenue and Customs (HMRC) is a new department of the British Government created by the merger of the Inland Revenue and Her Majestys Customs and Excise which came into formal effect on 18 April 2005. ... Business rates are a United Kingdom tax charged to businesses and other occupiers of non-domestic property. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Gold standard Fiscal policy Spending   Deficit   Debt Policy-mix Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Regulation Banking Fractional-reserve Full-reserve   Free banking Islamic... Vehicle clamping Vehicle removal Decriminalised Parking Enforcement (DPE) is the name given in the United Kingdom to the civil enforcement of car parking regulations. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        An income tax is a tax levied on the financial income... Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        UK Income Tax and National Insurance (2005–2006) UK Income Tax and National Insurance as a % of Salary (2005–2006) National Insurance (NI) is a system of taxes and related social security benefits in the... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Gold standard Fiscal policy Spending   Deficit   Debt Policy-mix Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Regulation Banking Fractional-reserve Full-reserve   Free banking Islamic... Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        Corporation tax is a tax levied in the United Kingdom on the profits made by companies and associations that are resident for tax purposes, and on the profits of permanent establishments of non-UK resident... Hydrocarbon oil duty is the name given to the excise duty levied on oils (mainly road vehicle fuels) in the United Kingdom. ...


These data show the tax burden (personal and corporate) and national debt as a percentage of GDP. Samples are taken at 10 year intervals (snapshots, but the rolling averages are very close).

Year Tax Debt
1975/6 54% 43%
1985/6 44% 43%
1995/6 43% 38%
2005/6* 46% 40%
(Source: HM Treasury Public Finances Databank)
(* — Projected)

The money Gross Domestic Product (GDP) for the United Kingdom, at market prices, in 2005 was £1,211 billion (or $2,431 billion) according to HM Treasury in March 2006.

GDP % GDP for selected years, 2002 — 2006 est.
Year GDP
in billions of USD PPP
1.9% (2005 est.) GDP Growth
2002 1575.906 2.0
2003 1640.829 2.5
2004 1736.377 3.2
2005 1825.837 1.9
2006 1910.818 2.2
Income distribution
 lowest 10%
 highest 10%
(1999)
2.1%
28.5%
Consumer prices inflation RPI: 3% (2004), CPI: 1.6% (2004)
Labour force composition
 services
 government
 manufacturing/construction
 energy
 agriculture
(2004)
46%
28%
24%
1%
1%
Industrial growth -0.3% (1999)
Electricity production 382.7 TWh (2004)
exports 0.77%
Electricity production composition
 fossil fuel
 hydro
 nuclear
 renewables
 imports
(2004)
74.13%
1.1%
19.26%
3.55%
1.96%
Electricity consumption 337.4 TWh (2003)
Electricity exports 2.959 TWh (2003)
Electricity imports 5.119 TWh (2003)
Agriculture products cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry; fish
Exported commodities manufactured goods, fuels, chemicals; food, beverages (notably Scotch whisky), tobacco
Imported commodities manufactured goods, machinery, fuels; foodstuffs

The terawatt hour (TW·h) is a unit for measuring energy. ... Scotch whisky is whisky made in Scotland. ...

Exports

In 2007 UK exports were valued at £220bn.[14]

  • Food and drink exports were valued at £9.7bn (2005)[15]
  • UK total arms exports were valued at £7.1bn (2005)[16]

UK export figures are boosted 10% by high levels of Missing trader fraud according to the Office for National Statistics.[17] A Missing Trader Fraud (or Carousel Fraud) is a type of deception practiced across different jurisdictions, exploiting the Value Added Tax systems between those jurisdictions. ... Office for National Statistics logo The Office for National Statistics (ONS) is the United Kingdom government executive agency charged with the collection and publication of statistics related to the economy, population and society of the United Kingdom at national and local levels. ...


Other statistics

Average total income of Indians is higher than that of any other ethnic group in the UK at per £30,211 annum. Reasons for such high income among Indians is that one in 20 Hindu men in the UK are doctors compared to 1 in 200 Christian men. [7] Besides, Hindus along with Jews and Buddhists are more likely to do high end jobs (managerial or professional occupations) whereas Jews are most likely to be selfemployed. Image File history File links Unbalanced_scales. ...


Notable Indians include UK's richest man, Lakshmi Mittal. Together, that pulls the average of Indians higher. However, the unemployment rate for Indian men (7 per cent) was similar to those for White British or White Irish men. Whites, in general, have much lower unemployment rate than the non whites. Lakshmi Narayan Mittal[1] (or Lakshmi Niwas Mittal) (born June 15, 1950) is a London-based Indian billionaire industrialist, born in Sadulpur village, in the Churu district of Rajasthan, India, and resides in Kensington, London. ...


Pakistanis are the least economically affluent with their male unemployment rates being 20% and 16% respectively. One in seven Pakistani men in employment was a taxi driver, cab driver or chauffeur, compared with 1 in 100 White British men. Over a quarter of Bangladeshi men were chefs, cooks or waiters compared with 1 in 100 White British men. [8].

Rank Average total income
by ethnic group
1 Indian £30,211
2 Chinese £25,964
3 White £24,917
4 National average £24,756
5 Any other ethnic group £24,568
6 Black African £23,350
7 Black Caribbean £23,109
8 Bangladeshi £22,902
9 Pakistani £18,209

[9]. This article is about the color. ... This article is about the color. ... World map showing location of Africa A satellite composite image of Africa Africa is the worlds second_largest continent in both area and population, after Asia. ... This article is about the color. ...


See also

The United Kingdom budget[1] in the field of Public finance deals with HM Treasury budgeting the revenues gathered by Her Majestys Revenue and Customs and expenditures of public sector departments, in compliance with government policy. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Many commentators believe that a British property bubble has existed since about 1998 in the British property market. ...

References

  1. ^ The Global Financial Centres Index 2
  2. ^ eurostat.ec.europa.eu - Labour productivity per person employed
  3. ^ eurostat.ec.europa.eu - Labour productivity per hour worked
  4. ^ HM Treasury - 2007 Pre-Budget Report and Comprehensive Spending Review
  5. ^ eh.net - Lawrence H. Officer, "Exchange rate between the United States dollar and forty other countries, 1913 -1999", 2002.
  6. ^ www.face-online.org.uk
  7. ^ a b c d e f g h i j k l m n United Kingdom National Accounts - The Blue Book 2006
  8. ^ http://www.uksteel.org.uk/fact1.htm
  9. ^ Manufacturing In Britain: A Survey Of Factors Affecting Growth & Performance, Industrial Systems Research Publications, Manchester (UK), revised 3rd edition. 2003, page 1. ISBN 978-0-906321-30-0
  10. ^ Britain moves a step closer to building new nuclear reactors, Financial Times, 9/01/2008
  11. ^ mori.com - Joining the Euro, all companies' polls
  12. ^ Microsoft Word - gva1207.doc
  13. ^ eurostat.ec.europa.eu - Regional BIP per capita (German)
  14. ^ Exports and imports of goods and services
  15. ^ http://www.dairyreporter.com/news/ng.asp?id=61187-uk-exports-food UK export figures boosted 10% by VAT carousel fraud; Ireland part of multi-billion white-collar criminal network
  16. ^ Total UK Arms Exports
  17. ^ UK export figures boosted 10% by VAT carousel fraud; Ireland part of multi-billion white-collar criminal network

The Financial Times (FT) is a British international business newspaper. ...

External links

The list of unrecognized countries enumerates those geo-political entities which lack general diplomatic recognition, but wish to be recognized as sovereign states. ...  Southwest Asia in most contexts. ... The borders of the continents are the limits of the several continents of the Earth, as defined by various geographical, cultural, and political criteria. ...  The North American plate, shown in brown The North American Plate is a tectonic plate covering most of North America, extending eastward to the Mid-Atlantic Ridge and westward to the Cherskiy Range in East Siberia. ...  The African plate, shown in pinkish-orange The African Plate is a tectonic plate covering the continent of Africa and extending westward to the Mid-Atlantic Ridge. ...

  Results from FactBites:
 
Economy of the United Kingdom - Biocrawler (1250 words)
The United Kingdom, a leading trading power and financial centre, has the fourth largest economy in the world, the second largest in Europe, and is a member of the European Union.
However the UK economy is one of the strongest of the larger European Union economies; inflation, interest rates, and unemployment remain low.
Two of the richest 10 areas in the Europe Union are in the United Kingdom.
United Kingdom Travel Information - England, Northern Ireland, Scotland and Wales Holiday Accommodation & Bookings (497 words)
The United Kingdom (or UK) is a country of western Europe comprising England, Scotland, Wales, and Northern Ireland.
is a division of the United Kingdom in the northeast section of the island of Ireland.
It was colonized by the British in the 17th century and became a part of the United Kingdom in 1920.
  More results at FactBites »

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m