of St. George (patron saint of England)
edged in white superimposed on the diagonal red cross of St. Patrick (patron
saint of Ireland) which is superimposed on the diagonal white cross of
St. Andrew (patron saint of Scotland); known as the Union Flag or Union Jack;
the design and colors (especially the Blue Ensign) have been the basis for a
number of other flags including dependencies, Commonwealth countries, and others

- Economy
Overview: The UK is one of the world's great trading powers and
financial centers, and its economy ranks among the four largest in
Europe. The economy is essentially capitalistic with a generous admixture
of social welfare programs and government ownership. Over the last decade
the Thatcher government has halted the expansion of welfare measures and
has promoted extensive reprivatization of the government economic sector.
Agriculture is intensive, highly mechanized, and efficient by European
standards, producing about 60% of food needs with only 1% of the labor
force. Industry is a mixture of public and private enterprises, employing
about 24% of the work force and generating 22% of GDP. The UK is an
energy-rich nation with large coal, natural gas, and oil reserves;
primary energy production accounts for 12% of GDP, one of the highest
shares of any industrial nation. Following the recession of 1979-81, the
economy has enjoyed the longest period of continuous economic growth it
has had during the last 30 years. During the period 1982-89 real GDP grew
by about 25%, while the inflation rate of 14% was nearly halved. Between
1986 and 1989 unemployment fell from 11% to about 6%. As a major trading
nation, the UK will continue to be greatly affected by: world boom or
recession; swings in the international oil market; productivity trends in
domestic industry; and the terms on which the economic integration of
Europe proceeds.

GDP: $818.0 billion, per capita $14,300; real growth rate 2.3%
(1989 est.)

Inflation rate (consumer prices): 7.8% (1989)

Unemployment rate: 6.4% (1989)

Budget: revenues $348.7 billion; expenditures $327.8 billion,
including capital expenditures of $42.0 billion (FY89)

Exports: $151.0 billion (f.o.b., 1989); commodities--manufactured
goods, machinery, fuels, chemicals, semifinished goods, transport equipment;
partners--EC 50.4% (FRG 11.7%, France 10.2%, Netherlands 6.8%), US 13.0%,
Communist countries 2.3%

Imports: $189.2 billion (c.i.f., 1989); commodities--manufa