The British economy comprises the economies of England, Scotland, Wales and Northern Ireland. The UK is a member of the Commonwealth of Nations, the European Union, the G7, the G8, the G20, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the World Bank, the World Trade Organisation and the United Nations. The Economy of England is the largest economy of the four countries of the United Kingdom. England is a highly industrialised country. It is an important producer of textiles and chemical products. Although automobiles, locomotives, and aircraft are among England's other important industrial products, a significant proportion of the country's income comes from the City. Since the 1990, the financial services sector has played an increasingly significant role in the English economy and the City of London is one of the world's largest financial centres. Banks, insurance companies, commodity and futures exchanges are heavily concentrated in the City. The British pound sterling is the official currency of England and the central bank of the United Kingdom, the Bank of England, is located in London. The UK is one of the world's most globalised countries. London is the world's largest financial centre alongside New York. The aerospace industry of the UK is the second-largest national aerospace industry. The main crops that are grown are wheat, barley, oats, potatoes, sugar beets England is one of the world's leading fishing nations. England remains a key player in the aerospace, defence, pharmaceutical and chemical industries, and British companies worldwide continue to have a role in the sector through foreign investment. The largest centre for tourism is London, which attracts millions of international tourists every year. QUESTIONS 1. What is the economy of Great Britain mostly based on? 2. What manufacturing is less developed in Britain? 3. What makes the country self-sufficient in energy? 4. What were the years of economical growth in Britain? 5. What does the government do to keep the economy at highlevel? 6. Why is Great Britain a good place for investments?

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