Economic Picture of Great Britain 2003 This is an economic report on the United Kingdom going into details using current 2002 stats.

Essay by alimanCollege, UndergraduateA+, January 2003

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Table of Contents:


Legal Report:

Laws on investment/ export/ intentional business4

Foreign ownership4

Trade organizations:5

Human Rights in the Work Force6

Economic Report:

Type of Tax System:9

Stock Market9



Natural economic resources11

Trade sectors and distribution channels11

Stability of currency 13


GDP Growth14

GDP by sector14

Inflation Rate15

Importing partners and Products16

Exporting Partners and producers16

Income distributing17

Workforce Composition18

Stability of economy18

Unemployment Rate18

Employment Rate19

Participation Rate19

Labour Force by Occupation/sector20

Trade barriers20

Works Cited:21


Laws on investment/ export/ international business

Investment business is controlled by the Financial Services Act 1986 and related legislation, including the Insurance Companies' Act 1982 and the Banking

Act 1997. These acts protect investors from fraud and restrict investment advertising as well as regulating investments from non EU citizens. The organization is called the FIR.

Exporting is highly encouraged in the UK because it is the main source of income for almost all citizens.

Import Duty is usually percentage based. It averages at between about 5% and 9% - but with extremes in some cases between nil and 85%.

Certain categories of goods may require an export licence from the Department of Trade and Industry. The main purpose of export control is to prevent the proliferation of nuclear, chemical and biological weapons and missile delivery systems.

Foreign Ownership:

The graph below indicates how much the UK owns abroad. When you look at the GDP which is $1.47 trillion USD and the GDP/Capita which is $24,700 USD you can see that the UK has a high standard of living. Foreign ownership also leads to an increase in foreign money added to the United Kingdom's GDP. This is largely in part to colonisation. For example, in Canada the United Kingdom operates over 1 billion dollars worth of industries and...