FEDERAL STATE AUTONOMOUS
EDUCATIONAL INSTITUTION OF HIGHER EDUCATION «BELGOROD NATIONAL RESEARCH UNIVERSITY»
(NRU BELSU)
INSTITUTE OF CROSS-CULTURAL COMMUNICATIONS AND INTERNATIONAL RELATIONS
11040012. DEPARTMENT OF ENGLISH PHILOLOGY AND INTERCULTURAL COMMUNICATION
THE DISCIPLINE «BRITISH AND AMERICAN
STUDIES»
«ECONOMY OF THE UK»
GENERAL INFORMATION
Global Position: 6th largest economy in the world GDP: £2.27 trillion (2023)
Population: over 68 million people Currency: British Pound Sterling Central Bank: Bank of England
ECONOMIC STRUCTURE
Main Sectors:
Services: 72.79% of GDP
Industry: 16.92% of GDP
Agriculture: 0.57% of GDP
Key Indicators:
Unemployment rate: 4.0% (June-August 2024)
Wage growth: 4.9% (June-August 2024)
SERVICE SECTOR DOMINANCE
Leading Industries:
Financial services
Professional services
Retail
Healthcare
Education
London as a Financial Hub:
Home to over 500 international banks
Major financial institutions
Stock Exchange
INDUSTRIAL SECTOR
Key Industries:
Aerospace
Pharmaceuticals
Automotive
Machinery
Chemical production Major Companies:
BP
Shell
Unilever
HSBC
GlaxoSmithKline
AGRICULTURE & FISHERIES
Production effi ciency: produces 60% of national food needs; intensive and mechanized farming. Main Products: wheat, barley, potatoes, dairy products, livestock.
TRADE PARTNERS
Top Export Markets: USA (18.2%), Germany (9.2%),
France (6.6%).
Top Import Sources: USA (11.0%), Germany (12.2%),
China (7.0%).
BREXIT IMPACT
Challenges:
economic growth slowdown;
labor shortages;
financial services relocation Current Effects:
over 200,000 European workers left;
service sector staffing issues
FUTURE PROSPECTS
Strengths:
Diversified economy
Strong financial sector
Open market policies
Challenges:
Post-Brexit adaptation
Global competition
Inflation management
CONCLUSION
UK Economy Summary: highly developed, service-oriented, global influence.
Despite challenges, the UK remains a major economic power with significant global reach.