The uk economy

The UK economy is one of the strongest in Europe; inflation, inter­est rates, and unemployment remain low. Growth is now at 3,0% per annum, which is higher than that of France, Germany and many other European countries.

The UK has large coal, natural gas, and oil reserves; primary energy production accounts for 10% of GDP, one of the highest shares of any industrial nation.

Due to the North Sea oil during the 1990s the UK became a net hy­drocarbon exporter and the second largest producer of oil in Western Europe after Norway. Around about 80% of the UK electricity is cur­rently generated from fossil fuels, nuclear power. The UK is the world's 8th greatest producer of carbon dioxide emissions, producing around 2.3% of the total generated from fossil fuels.

Service industries, particularly banking, insurance, and business services, account for the largest proportion of GDP and employ around 70% of the working population.

Manufacturing continues to decline in importance. The UK was left with a very small domestic manufacturing sector. However British companies world wide continued to be present in the sector through foreign investment or through the closure and movement of factories to Eastern Europe and the Far East in search of lower costs.

Tourism is the 6th largest industry in the UK, contributing 76 bil­lion pounds to the economy. It employs 1,800,000 full-time equivalent people — 6.1% of the working population.

Agriculture is intensive, highly mechanised, and efficient by Euro­pean standards, producing about 60% of food needs with only. 1% of the labour force. It contributes around 2% of GDP. Around two thirds of production is devoted to livestock, one third to crops. The main crops that are grown are wheat, barley, oats, potatoes, sugar beets, fruits and vegetables. The livestock that is raised is cattle and sheep. The GDP from the farming sector is argued by some politicians to be a small return on the subsidies given.

The us economy

The American economy is a dynamic system that is constantly evolving out of the choices and decisions made by millions of citizens who play multiply, often overlapping roles as consumers, producers, investors and voters. By any standard, the American economy has been immensely successful. With less than 5 percent of the world's population, the United States in the early 1990s produced about 25 percent of the world's output. The U.S. economy is more than twice as large as the next largest economy, that of Japan. By conventional measures, U.S. productivity and standard of living remain among the highest in the industrial world.

Although the American economy has transformed itself over the years, certain issues persisted since the early days of the republic. One is the continuing debate over the proper role for government in what is basically a market economy. Another recurrent theme has been the transformation of the U.S. economy by emerging technologies. Beginning in 1870 and lasting for around a century, the United Stated became the world's manufacturing power-house — leading the world in the production of steel, automobiles and other products. Since the 1960s, another transformation has been taken place, as new service-based and information-processing industries gradually replace some of the old stalwarts of the traditional industrial base. By the 2000s, advances made in such fields as chemistry, electronics and biotechnology were producing goods and services ranging from semiconductor circuits to laser surgery. Similarly, new farming technology has transformed the American agricultural sector, allowing more food and fiber to be produced by a constantly dwindling number of farmers.

The third theme has been the continuous debate over international trade policy and, thus, over the degree of the United States integration into the world economy. Each of these themes underscores certain fundamental characteristics of the American economy. First, it is changing continuously, as citizens freely express their economic preferences directly in the marketplace and indirectly in the voting booth. At the same time, the Americans accept an important role for government to help create an environment with the widest possible opportunities for individual opportunity, and economic growth and progress.

The USA

The USA is one of the largest countries in the world. It is situated in the central part of the North American continent. The area of the USA is over nine million square kilometers. It is washed by the Pacific Ocean and by the Atlantic Ocean.

The population of the United States is nearly 250 million people, most of the people live in towns. People of different nationalities live in the USA.

The official language of the country is English. The capital of the country is Washington.

It was named in honour of the first President, George Washington.

As the USA is a large country, the climate is different in different regions.

The USA produces more than 52 per cent of the world's corn, wheat, cotton, tobacco.

The USA has an Academy of Sciences. There are many scientific institutions, museums, libraries, theatres and other interesting places in the country.

The USA is a federal republic, consisting of fifty states. Each of these states has its own government. Congress is the American Parliament which consists of two Chambers.

The president is the head of the state and the government. He is elected for four years.