Facts about UK economy

In the 1920s, over 1.2 million men were employed in the coal mines. By 2017, that number was below 5,000

The manufacturing sector has declined from 35% of GDP in 1970 to 12% in 2008.

The service sector now accounts for 80% of the UK economy

Unemployment in the UK was highest during the Great Depression of the 1930s at over 22% of the workforce. This was also was in a period of minimal welfare support from the government.

The largest category of UK production is mineral oils and fuels 16%, nuclear reactors/parts is 2nd at 14%. The third largest is cars at 10%

Although mostly foreign-owned, the UK car industry is a major exporter. UK factories built 1.6 million cars

48% of UK exports go to the EU

53% of UK imports come from the EU. Germany is our biggest import source, followed by Spain.

 

Source – economics.help

 

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