roduction accounts for 10% of GDP, one 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
as the global downturn, the high value of the pound, and the bursting
of the "new economy" bubble hurt manufacturing and exports. Still, the
economy is one of the strongest in Europe; inflation, interest rates,
and unemployment remain low, and the government expects growth of 2% to
2.5% in 2002. 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). The Prime Minister has
pledged to hold a public referendum if membership meets Chancellor of
the Exchequer BROWN's five economic "tests." Scheduled for assessment
by mid-2003, the tests will determine whether joining EMU would have a
positive effect on British investment, employment, and growth. Critics
point out, however, that the economy is thriving outside of EMU, and
they point to public opinion polls that continue to show a majority of
Britons opposed to the single currency.

GDP: purchasing power parity - $1.47 trillion (2001 est.)

GDP - real growth rate: 2.4% (2001 est.)

GDP - per capita: purchasing power parity - $24,700 (2001 est.)

GDP - composition by sector: agriculture: 1.7% industry: 24.9% services:
73.4% (1999)

Population below poverty line: 17%

Household income or consumption by percentage share: lowest 10%: 2.6%
highest 10%: 27.3% (1991)

Distribution of family income - Gini index: 36.1 (1991)

Inflation rate (consumer prices): 1.8% (2001 est.)

Labor force: 29.7 million (2001)

Labor force - by occupation: agriculture 1%, industry 25%, services 74%
(1999)

Unemployment rate: 5.1% (2001 est.)

Budget: revenues: $565 billion expenditures: $540 billion, including
capital expenditures of $NA (FY01)

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, and other consumer goods

Industrial production growth rate: -1.6% (2001 est.)

Electricity - production: 355.761 billion kWh (2000)

Electricity - productio