The Economy of Great Britain

The economy of Great Britain

Great Britain is a highly-developed naval and industrial power. Its economy was primarily based on private enterprises. However, some industries were nationalized after World War II. Now it has a mixed private- and public-enterprise economy ¹. The government controls the coal-mining and electric power industries, ferrous metallurgy and shipbuilding. Part of public transport, civil aviation and national bank are also managed by the state. 
The main sectors of British economy are manufacturing, services and agriculture. The share of industry in GNP ² is 11 times more than that of agriculture. Manufacturing plays a vital role in British economy. It accounts for 1/5 of the GNP and employs less than 1/3 of the workforce ³. Small companies predominate, though companies with 500 or more employees employ a larger percentage of the workforce. 
The rise of Great Britain as an industrial nation ⁴ was partly due to ⁵ the presence of considerable mineral resources, the most important of them being coal and iron. Next to coal and iron the chief minerals found on the British Isles are the building stone, marble, granite, slate, lead, tin, copper, zink, salt and china clay. But in the course of the last hundred years many of Britain's most valuable and accessible deposits have been worked out. 
Coal-mining, metallurgy, textile, shipbuilding are the older branches of industry. The new industries are the chemical, electrotechnical, automobile, aeromissile and electronics. The new industries have developed hand in hand ⁶ with science and technology and are equipped to meet present technical demands. 
Big cities and towns such as London, Glasgow, Manchester, Liverpool, Newcastle, Sheffield and Birmingham have enterprises of nearly all branches of industry. The main centres of cotton and woolen industry are Leeds, Bradford and Manchester. 

The external affairs of Great Britain

Great Britain is one of the biggest and highly developed countries in the world. Britain's democratic system of government is long established and well tried, and has provided a remarkable political stability. Britain's overseas relations including its membership in the European Economic Community and its links with Commonwealth countries, enable it to realize international cooperation.

Great Britain has diplomatic relations with 166 countries, bears (he responsibility for 14 independent territories, provides assistance to over 120 developing countries and is a member of some international organizations. It is one of the five permanent members of the UNO Security Council. Great Britain is a member of the European Economic Community. The Community defines its aims as the harmonious development of economic activities. It has abolished internal tariffs, established common custom tariffs and set a goal of the creation of an internal market in which free movement of goods, services, persons and capital would be ensured in accordance with the Treaty of Rome. By the middle of 1990 Britain had adopted more laws regulating the activity in the internal market than any other Community member. The Community now accounts for a fifth of world trade. Half britain's trade is with its eleven Community partners.

Great Britain takes an active part in the work of the Commonwealth, which is a voluntary association of 50 independent states. The English Queen is recognized as Head of the Commonwealth.

Great Britain promotes sustained economic and social progress in developing countries. Almost £65 million were spent on disaster relief, help for refugees and emergency humanitarian aid.

Britain's defence policy is based on its membership in NATO, which is committed to defend the territories of all its states-members.

The external affairs of Great Britain

Great Britain is one of the biggest and highly developed countries in the world. Britain's democratic system of government is long established and well tried, and has provided a remarkable political stability. Britain's overseas relations including its membership in the European Economic Community and its links with Commonwealth countries, enable it to realize international cooperation.

Great Britain has diplomatic relations with 166 countries, bears (he responsibility for 14 independent territories, provides assistance to over 120 developing countries and is a member of some international organizations. It is one of the five permanent members of the UNO Security Council. Great Britain is a member of the European Economic Community. The Community defines its aims as the harmonious development of economic activities. It has abolished internal tariffs, established common custom tariffs and set a goal of the creation of an internal market in which free movement of goods, services, persons and capital would be ensured in accordance with the Treaty of Rome. By the middle of 1990 Britain had adopted more laws regulating the activity in the internal market than any other Community member. The Community now accounts for a fifth of world trade. Half britain's trade is with its eleven Community partners.

Great Britain takes an active part in the work of the Commonwealth, which is a voluntary association of 50 independent states. The English Queen is recognized as Head of the Commonwealth.

Great Britain promotes sustained economic and social progress in developing countries. Almost £65 million were spent on disaster relief, help for refugees and emergency humanitarian aid.

Britain's defence policy is based on its membership in NATO, which is committed to defend the territories of all its states-members.

The economy of Great Britain

Great Britain is a highly-developed naval and industrial power. Its economy was primarily based on private enterprises. However, some industries were nationalized after World War II. Now it has a mixed private- and public-enterprise economy ¹. The government controls the coal-mining and electric power industries, ferrous metallurgy and shipbuilding. Part of public transport, civil aviation and national bank are also managed by the state. 
The main sectors of British economy are manufacturing, services and agriculture. The share of industry in GNP ² is 11 times more than that of agriculture. Manufacturing plays a vital role in British economy. It accounts for 1/5 of the GNP and employs less than 1/3 of the workforce ³. Small companies predominate, though companies with 500 or more employees employ a larger percentage of the workforce. 
The rise of Great Britain as an industrial nation ⁴ was partly due to ⁵ the presence of considerable mineral resources, the most important of them being coal and iron. Next to coal and iron the chief minerals found on the British Isles are the building stone, marble, granite, slate, lead, tin, copper, zink, salt and china clay. But in the course of the last hundred years many of Britain's most valuable and accessible deposits have been worked out. 
Coal-mining, metallurgy, textile, shipbuilding are the older branches of industry. The new industries are the chemical, electrotechnical, automobile, aeromissile and electronics. The new industries have developed hand in hand ⁶ with science and technology and are equipped to meet present technical demands. 
Big cities and towns such as London, Glasgow, Manchester, Liverpool, Newcastle, Sheffield and Birmingham have enterprises of nearly all branches of industry. The main centres of cotton and woolen industry are Leeds, Bradford and Manchester.