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Economy of the United Kingdom

Population: 64 million in 20131

GDP: $2.52 trillion in 20132

GDP per capita: $41,787 nominal3 ($36,197 PPP4) in 2013

GDP growth rate: 2.6% in 20145


GDP by Industry 20126

Industry sectorValue added ($ billions) 2012Percent of total
Other activities1,16053.2%
Wholesale, retail trade, restaurants and hotels36016.5%
Transport, storage and communication1788.2%
Mining and utilities1044.8%
Agriculture, hunting, forestry, fishing150.7%
Total value added2,180100%


Unemployment rate: 5.7% in Dec 20147

Employment by Industry 20138

Employment sector Employees (thousands) 2013Percent of total
Wholesale trade, retail trade and repair of motor vehicles4,00613.4%
Human health and social work3,99413.4%
Professional, scientific and technical2,0326.8%
Public administration and defence1,8416.2%
Accommodation and food service1,5105.1%
Transportation and storage1,4915.0%
Administrative and support service1,4084.7%
Information and communication1,1643.9%
Finance and insurance1,1583.9%
Other service7972.7%
Arts, entertainment and recreation7332.5%
Real estate3361.1%
Agriculture, forestry and fishing3131.1%
Not elsewhere classified2750.9%
Water supply, sewerage and waste management2100.7%
Electricity, gas, steam and air conditioning1780.6%
Mining and quarrying1310.4%
Activities of households as employers630.2%
Extraterritorial organizations and bodies430.1%
Total employment29,821100%


Top 10 Corporations by Revenue 2014* 9

RankCorporationRevenue ($ billions) 2014Profit ($ billions) 2014Assets ($ billions) 12/31/14Industry
4Legal & General Group781.5604Finance
6Lloyds Banking Group602.31,282Finance
10Rio Tinto486.5108Mining

* Corporate data calculated using the exchange rate .611 GBP = 1 USD


Household Wealth: $14.2 trillion (563% of GDP) in 201410

Household Wealth per Adult: $292,621 in 201410

Gini Coefficient: .323 in 201211


Central Government

Central Government Revenue: $1.02 trillion (40% of GDP) in 201312

Central Government Expenditure: $1.11 trillion (44% of GDP) in 201312

Central Government Budget Balance: -$89 billion (-4% of GDP) in 201312

Central Government Public Debt: $2.45 trillion (97% of GDP) in Q2 2014* 13

Central Government 10 Year Bond Interest Rate: 1.60% on Jan 10, 201514

* Public debt calculated using the exchange rate .661 GBP = 1 USD

Public Funds


Tax Structure

Personal Income Tax Rates and Thresholds in 2013* 15

Corporate Tax Rate: 21% in 201416

* Thresholds calculated using the exchange rate .661 GBP = 1 USD

Monetary Policy

Money supply (M1): $2.04 trillion (81% of GDP) in Oct 2014* 17

Benchmark Interest Rate: Bank Rate = 0.5% on Jan 8, 201518

Total Reserves: $104 billion (4% of GDP) in 201319

Exchange Rate: .661 Great Britian Pounds = 1 U.S. Dollar on Jan 10, 201520

Inflation: 0.0% in Feb 201521

* Money supply calculated using the exchange rate .661 GBP = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201322

RankFinancial InstitutionAssets ($ billions) 2013*
3Royal Bank of Scotland1,555
4Lloyds Banking1,281
5Standard Chartered674
7Santander UK408
9Standard Life280
10The Co-operative Bank65

* Assets calculated using the exchange rate .661 GBP = 1 USD

International Accounts

Exports: $813 billion (32% of GDP) in 201323

Imports: $783 billion (31% of GDP) in 201323

Trade Balance: +$30 billion (+1% of GDP) in 201323

Foreign Direct Investment Inflow: $37 billion (1% of GDP) in 201324

Foreign Direct Investment Outflow: $19 billion (1% of GDP) in 201324

Foreign Aid Inflow: N/A

Foreign Aid Outflow: $17.9 billion (1% of GDP) 25


1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: City A.M. (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: Office for National Statistics (Unemployment rate) Go back
8. Source: International Labor Organization, Downloads (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: CIA World Factbook (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: OECD Stat Extracts, National Accounts, Quarterly Public Sector Debt (Public debt) Go back
14. Source: Bloomberg (Government bond yield) Go back
15. Source: OECD Stat Extracts, Public Sector, Tax Database (Individual tax rates) Go back
16. Source: Tax Foundation (Corporate tax rate) Go back
17. Source: FRED (Money supply) Go back
18. Source: Bank of England (Benchmark interest rate) Go back
19. Source: World Bank Indicators (Total reserves) Go back
20. Source: Yahoo Finance (Exchange rate) Go back
21. Source: BBC News (Inflation rate) Go back
22. Source: Relbanks.com (Financial institutions by assets) Go back
23. Source: CIA World Factbook (Trade data) Go back
24. Source: OECD FDI in Figures (FDI data) Go back
25. Source: OECD Aid Statisitcs (Aid outflow) Go back