Economy of the United Kingdom

Rank 6th (nominal) / 7th (PPP) (3rd and 2nd in Europe respectively)

Currency Pound sterling (GBP)

Fiscal year 6 April – 5 April

Trade organisations EU, BCN, OECD and WTO

Statistics

GDP

$2.480 trillion (2011)[1] (nominal; 6th)

$2.253trillion (2011)[2] (PPP; 7th)

GDP growth 0.6% in Q3 2011 (accelerating from 0.0% in Q2 2011)[3]. 1.0% (Q1, Q2 & Q3 2011)[4]

GDP per capita $39,604 (2011)[2] (nom; 20th)

$35,974 (2011)[2] (PPP; 17th)

GDP by sector agriculture: 0.9%; industry: 22.1%; services: 77.1% (2010 est.)

Inflation (CPI) 4.8% (November 2011 decreasing from 5.0% in October 2011)[5]

Population

below poverty line 14% with household income below 60% of UK median income (2006 est.)

Gini coefficient 0.36 (2008)[6]

Labour force 31.45 million (2010 est.) (17th)

Unemployment 8.1% (September 2011)[7]

Average gross salary €4,108 / $5,546, monthly (2006)[8]

Average net salary €2,749 / $3,712, monthly (2006)[8]

Main industries List[hide]

Aerospace

Automotive

Business and professional services

Chemicals

Construction

Consumer goods

Defence equipment

Education

Electronics

Energy and utilities

Financial services

Food and beverages

Healthcare

Hospitality and leisure

Industrial equipment

Information technology

Media and entertainment

Pharmaceuticals and biotechnology

Processed metals

Real estate

Retailing

Scientific equipment

Telecommunications

Tourism

Transportation and logistics

Ease of Doing Business Rank 4th[9]

External

Exports £428.6 billion (2010)[10]

Export goods manufactured goods, fuels, chemicals, food stuff ,beverages, tobacco ,clothes, cars, military equipment, entertainment ,steel ,computer programming, finance, banking, electrical goods, machinery, pharmaceutical products

Main export partners United States 14.3%, Germany 10.5%, Netherlands 8.0%, France 7.2%, Ireland 6.0%, Belgium and Luxembourg 5.1%, Spain 3.7%, Italy 3.3%, China 3.2% (2010, not including services)[10]

Imports £477.9 billion (2010)[10]

Import goods manufactured goods, machinery, fuels; foodstuffs

Main import partners Germany 12.5%, China 8.4%, United States 7.6%, Netherlands 7.3%, France 6.0%, Norway 5.7%, Belgium and Luxembourg 5.0%, Italy 3.9%, Ireland 3.4% (2010, not including services)[10]

FDI stock $1.169 trillion (31 December 2010 est.)

Gross external debt $8.981 trillion (30 June 2010) (2nd)

Public finances

Public debt £977.1 billion 62.8% of GDP (November 2011) [11]

Budget deficit £154.7 billion[11] (2009–10 fiscal year) £127 billion (2011-2012 fiscal year (decreasing))

Revenues £589 billion (2011-2012 fiscal year) [12]

Expenses £711 billion (2011-2012 fiscal year) [13]

Economic aid $8 billion (donor)

Credit rating Standard & Poor's:[14]

AAA (Domestic)

AAA (Foreign)

AAA (T&C Assessment)

Outlook: Stable[15]

Moody's:[15]

AAA

Outlook: Stable

Fitch:[15]

AAA

Outlook: Stable

Foreign reserves $66.72 billion (31 Dec. 2009 est.)

310.3 tonnes of gold (17th)