Tag Archives: UNITED KINGDOM ECONOMY

United Kingdom Economy

Background

The United Kingdom has a fiercely independent, international trading and developed economy and has sixth largest economy in the world by nominal GDP, eighth-largest by purchasing power parity and third largest in Europe after Germany and France. London is the world’s second largest financial center after New York. In the 18th century it was the world’s largest and first industrialized country, and was also able to be at forefront of technological advances which gave strong economic advantage to other countries in the world. UK possessed a dominant, influential, and powerful role in global economy during the 19th and early 20th centuries. The aerospace industry and the pharmaceutical industry are the most important industries of the economy of Great Britain.  Economy of United Kingdom is boosted by its oil and gas reserves. In 1979 most of the companies owned by state were privatized and opened to public competition and were listed in the UKs financial market. Continue reading United Kingdom Economy