The UK Economy The UK has a

The UK Economy

The UK has a partially regulated market economy. The Bank of England the UK's Central Bank and is responsible for issuing the national currency GBP. Banks in Scotland Northern Ireland are also entitled to issue their own notes, subject to retaining a sufficient number of banknotes of the Bank of England to cover their issue. The pound Sterling is the third-largest reserve currency in the world.

Tourism is an important part of the British economy and, with 27 million tourists in 2004, the country occupies sixth place among the main places of tourism in the world, and London is visited by the greatest number of guests among all cities in the world.

The automotive industry is one of the main of the UK manufacturing sector and employs over 800, 000 people, with a turnover of some £ 52 billion, generating £ 26. 6 billion of exports. The aviation industry in the UK is the second or third largest (depending on calculation methods) and has an annual turnover of around £ 20 billion. The pharmaceutical industry in the UK also plays an important role and has the third largest expenditure on research (after the U. S. and Japan)

Morgan Plus 8 Land Rover Austin-Healey Sprite Aston Martin DB 5

Bentley Continental GT Jaguar E-Type Rolls-Royce Silver Cloud II Austin Mini

In 2006, the UK was the world's ninth-largest energy consumer, and fifteenth by the manufacturer. In 2009 the UK produced 1. 5 million barrels of oil per day, and consumed 1. 7 million barrels. Recently, the oil production began to decline and since 2005 the UK is a net importer of oil. In 2010 the UK had around 3. 1 billion barrels of proven crude oil reserves, the largest among EU members. In 2009, the UK was the 13 th producer of natural gas in the world and the largest in the EU. As with oil, recent production volumes began to decline and in 2004 the country began to import gas. In 2005, the total reserves available for coal production was 171 million tons, but large coastal area can expect potential reserves of 7 to 16 billion tons thanks to the technology of underground coal gasification. If to count from the current coal consumption of the country, these reserves Britain will last for a period of from 200 to 400 years.

Two British companies, Astra. Zeneca and Glaxo. Smith. Kline, are in the five largest pharmaceutical companies in the world, and in General, British companies opened and developed more pharmaceuticals than any other country except the United States.

The modern UK plays a leading role in the aviation industry, including Rolls-Royce, a market leader of aircraft engines etc. Scientific research is also one of the main activities of British universities, many of which create techno-parks to facilitate production and work with companies. In 2004 -2008 in the UK has created 7 % of the world's scientific research, the third largest in the world after USA and China.

In 2007 -2008, 13. 5 million people (22 % of the population) lived below the poverty line. This is the highest ratio in the EU in addition to the four countries.

In crop production : nearly 60% of arable land occupied by perennial grasses, more than 28% under cereals (15% wheat, 11% barley); and 12% under technical (rape, sugar beet, flax) and feeding crops (including potato) and vegetable gardens and berry patches. The main agricultural areas in East England South-East. There are many orchards. For products such as wheat, barley, oats and pork, the production volume exceeds the volume of consumption; such as potatoes, beef, mutton, wool, sugar and egg production below consumption.

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