For the last couple of years, Britain - business and economy has exhibited a tremendous amount of growth in all major financial sectors. Britain is the fourth largest economy in the world and is advancing towards becoming the largest economy in Europe. Britain has shown improvement in almost every major economical activity, including production, distribution, consumption and exchange of goods, and services of the country.
In 2002, the GDP (Gross Domestic Product) in Britain was 1557 billion dollars and in 2005, Britain experienced a GDP growth rate by 1.8%. In 2005, the GNP (Gross National Product) in Britain was 2263.7 billion dollars and the GNP per capita was 37632 dollars. In 2005, the employment level in Britain was the highest ever recorded.
As an economics strategy, the Government of Britain targets to improve employment opportunities vis-à-vis the economical stability of the country, by maintaining low inflation and sensible government borrowing. The government of Britain is also trying to promote for long-term investment in the country, primarily in sectors like industry, infrastructure, science and technology. To a large extent, the economy of Britain is based on private enterprise that contributes to about four-fifth of both employment and output.
Britain maintains a strong trade relationship with the United States. Britain is one of the largest foreign investors in the United States, and in the same way the US is regarded as one of the largest foreign investors in the UK. In 2004, Britain drew the maximum amount of foreign investments in Europe.
Britain's productivity has also shown a tremendous growth rate. The five principal profit making sectors in Britain economy include:
- Oil
- Banking
- Supermarkets
- Pharmaceuticals
- Retailing
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