Economy in UK: The United Kingdom has one of the largest economies in the world, with a Gross National Product estimate in 1999 at $1.29 trillion (U.S.). Finance, manufacturing, and trade form the base of the economy. The pound sterling is the currency, and it is still being debated whether the nation will join with the its European Union partners and adopt the Euro.
Commercial Activities: Banking and finance, are mainstays of the economy.
Major Industries: The United Kingdom is one of the most industrialized nations on earth and has a strong manufacturing base. Major products include machine tools, aircraft and ships, motor vehicles, electronics, chemicals, textiles, and food processing.
Trade: One of the leading trading powers in the world, the United Kingdom exported $271 billion (U.S.) and imported $306 billion (U.S.) worth of goods in 1998. Chief exports include manufactured goods, food, chemicals, and fuels. Manufactured goods, machinery, fuel, and food products are imported. Primary trading partners are the European Union and the United States.
Division of Labor: Although the nation produces almost two thirds of its food needs, in 1998, agriculture accounted for less than 2 percent of the workforce sector. Services account for 73 percent, and industry another 25.3 percent.
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