United Kingdom Economic Overview
high-income, diversified non-EU European economy; fifth-largest importer and exporter globally; after 2016 EU Brexit, increased quantitative easing avoided economic decline; 10% GDP contraction from COVID-19; global financial and diplomacy leader 

---

---

Western Europe, islands - including the northern one-sixth of the island of Ireland - between the North Atlantic Ocean and the North Sea; northwest of France

Note: The United Kingdom is made up of these constituent countries by percentage of total population:
England 84.3%
Scotland 8.1%
Wales 4.7%
Northern Ireland 2.8%

Source: CIAFactbook.com 

---

Strengths 

• Strong financial and professional services sector, including a well-developed banking system
• Diversified economy with a mix of traditional and modern industries
• High standard of living and well-developed social welfare system
• Skilled and educated workforce
• Strong cultural influence and attractiveness for tourism

                      Weaknesses

• High levels of government debt
• High levels of income inequality
• Dependence on foreign trade, particularly with the European Union
• Brexit uncertainty and potential trade barriers with the EU
• Regional economic disparities within the country

---

Opportunities

• Potential for growth in sectors such as technology and renewable energy
• Potential for increased trade with non-EU countries
• Potential for development of a more independent foreign policy
• Investment in infrastructure, education and training to improve productivity
• Encouraging entrepreneurship and small business growth
• Developing niche markets and high-value-added products and services
• Attracting foreign investment and encouraging inward investment

Threats

• Economic instability resulting from Brexit
• Slow economic growth in recent years
• Increasing competition from other developed countries
• Political instability and potential changes in government policy.

Characteristc	Fact
Terrain	​mostly rugged hills and low mountains; level to rolling plains in east and southeast
​Percentage of English Spoken	98%
​Population	​66,052,076 United Kingdom (July 2021 est.)
​Target Cities	London, Reading
​Main Industries	​machine tools, electric power equipment, automation equipment, railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, petroleum, paper and paper products, food processing, textiles, clothing, other consumer goods
​GDP Growth	1.26% (2019 est.)
​Government	​parliamentary constitutional monarchy; a Commonwealth realm
​Relevant History	Brexit
​Urbanization	​83.9% of total population (2020)
​Internet Connectivity	​94.9% (July 2018 est.)
​Moody's Credit Rating	​Aaa (2020)
​Terrorism Threat	Medium
US Travel Advisory	Do Not Travel Due to COVID-19
Corruption Perceptions Index	78
Coface Business Climate	A1

---

Find more statistics at Statista