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Great Britain
Great Britain is the birthplace of Newton, Darwin, Shakespeare and the Beatles; home of the world's largest foreign exchange market, the world's richest football club - Manchester United , the inventor of the hovercraft and the JK Rowling, the author of the Harry Potter books. From Scotland to Cornwall, Britain is full of customs and traditions. The UK is the fourth largest economy in the world, with a gross domestic product (GDP) of US $1.93 trillion. It has the second largest economy in Europe (after Germany). The capital, London, is one of the two largest financial centres in the world, along with New York City.
The UK economy is one of the strongest in Europe; inflation, interest rates, and unemployment remain low. Economic growth in the UK was 1.8 per cent in 2005 and grew by 2.7% in 2006.
The main British industries today are banking and finance, steel, transport equipment, oil and gas, and tourism. Railroad equipment, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, electric power equipment as well as shipbuilding, textiles, clothing that once made Britain one of the most powerful states still play an important role in the Britain's economy. Labour force in Britain reached 29.7 million people in 2001, 1.4% of which were busy in the agriculture, 18.2% worked for the industry, while 80.4% did their jobs in the domain of services.
The unemployment rate was about 5.1% in 2003.
Agriculture in Britain is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with only 1.4 % of the labour force. It contributes around 0.5% of GDP (Gross Domestic Product). Around two thirds of production is devoted to livestock, one third to arable crops.
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.
Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP.
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From Scotland to Cornwall, Great Britain is filled with various customs and traditions that make it unique. It is also a major player in the global economy, ranking as the fourth largest economy in the world with a gross domestic product (GDP) of US $1.93 trillion. In terms of Europe, it holds the position of having the second largest economy, following after Germany. The capital city, London, is recognized as one of the world's leading financial centers, alongside New York City.
The UK economy is considered one of the strongest in Europe, characterized by low inflation, interest rates, and unemployment rates. In 2005, the country experienced a 1.8% economic growth rate, which increased to 2.7% in 2006.
Currently, the main industries in Great Britain are banking and finance, steel production, transport equipment manufacturing, oil and gas extraction, and tourism. Although these sectors are dominant, other industries, such as railroad equipment, aircraft manufacturing, motor vehicles and parts production, electronics and communications equipment manufacturing, metals, chemicals, coal, electric power equipment, shipbuilding, textiles, and clothing, still contribute significantly to the country's economy. The labor force in the UK was approximately 29.7 million people in 2001, with 1.4% engaged in agriculture, 18.2% in the industry sector, and 80.4% employed in the service sector.
The unemployment rate in the UK was around 5.1% in 2003. Agriculture in Great Britain is known for its high level of mechanization and efficiency compared to other European countries. Despite employing only 1.4% of the labor force, it manages to produce about 60% of the country's food needs. The agricultural sector contributes around 0.5% of the GDP. Livestock farming accounts for approximately two-thirds of production, while arable crops make up the remaining one-third.
Great Britain has abundant reserves of coal, natural gas, and oil, making it self-sufficient in terms of primary energy production. In fact, primary energy production accounts for 10% of the GDP, which is one of the highest proportions among industrialized nations.
Services, particularly banking, insurance, and business services, play a dominant role in the UK economy, contributing to the largest proportion of the GDP.
In conclusion, Great Britain is a country with a diverse economic landscape, encompassing various industries and sectors. It has a strong economy, with notable contributions from sectors such as finance, manufacturing, oil and gas, and tourism. Additionally, the country has a rich cultural heritage and has made significant contributions to the fields of science, literature, and music.