of
the highest shares of any industrial nation. Services, particularly
banking, insurance, and business services, account by far for the
largest proportion of GDP while industry continues to decline in
importance. GDP growth slipped in 2001-03 as the global downturn,
the high value of the pound, and the bursting of the "new economy"
bubble hurt manufacturing and exports. Output recovered in 2004, to
3.2% growth, then slowed to 1.7% in 2005 and 2.6% in 2006. The
economy is one of the strongest in Europe; inflation, interest
rates, and unemployment remain low. The relatively good economic
performance has complicated the BLAIR government's efforts to make a
case for Britain to join the European Economic and Monetary Union
(EMU). Critics point out that the economy is doing well outside of
EMU, and public opinion polls show a majority of Britons are opposed
to the euro. Meantime, the government has been speeding up the
improvement of education, transport, and health services, at a cost
in higher taxes and a widening public deficit.

GDP (purchasing power parity):
$1.903 trillion (2006 est.)

GDP (official exchange rate):
$2.341 trillion (2006 est.)

GDP - real growth rate:
2.7% (2006 est.)

GDP - per capita (PPP):
$31,400 (2006 est.)

GDP - composition by sector:
agriculture: 1%
industry: 25.6%
services: 73.4% (2006 est.)

Labor force:
30.4 million (2006 est.)

Labor force - by occupation:
agriculture: 1.5%
industry: 19.1%
services: 79.5% (2004)

Unemployment rate:
5.4% (2006 est.)

Population below poverty line:
17% (2002 est.)

Household income or consumption by percentage share:
lowest 10%: 2.1%
highest 10%: 28.5% (1999)

Distribution of family income - Gini index:
36.8 (1999)

Inflation rate (consumer prices):
2.3% (2006 est.)

Investment (gross fixed):
17.2% of GDP (2006 est.)

Budget:
revenues: $973 billion
expenditures: $1.04 trillion; including capital expenditures of $NA
(2006 est.)

Public debt:
42.2% of GDP (2006 est.)

Agriculture - products:
cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry; fish

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, clo