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United Kingdom: country overview

26 January 2017, 12:38 CET
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The UK was an active member of the EU from 1973 to 2016, although it chose to remain outside the Economic and Monetary Union. However, frustrated by a remote bureaucracy in Brussels and massive migration into the country, UK citizens on 23 June 2016 narrowly voted to leave the EU. The so-called “Brexit” will take years to carry out but could be the signal for referenda in other EU countries where scepticism of EU membership benefits is strong. The most important sectors of the UK’s economy in 2015 were wholesale and retail trade, transport, accommodation and food services (18.6 %), public administration, defence, education, human health and social work activities (18.4 %) and industry (13.3 %). The UK’s main export partners are the US, Germany and Switzerland, while its main import partners are Germany, China and the US.

UK flag

Capital: London

Geographical size: 248 528 km2

Population: 64 875 165 (2015)

Population as % of total EU: 12.8 % (2015)

Gross domestic product (GDP): € 2.569 trillion (2015)

Official EU language(s): English

Political system: parliamentary constitutional monarchy

EU member country since: 1 January 1973

Seats in the European Parliament: 73

Currency: pound sterling GBP

Schengen area member? No, the UK is not a member of the Schengen Area.

Presidency of the Council: the UK has held the revolving presidency of the Council of the EU 5 times between 1977 and 2005.

Map of Great Britain

Country overview

The United Kingdom (UK) consists of England, Wales, Scotland (who together make up Great Britain) and Northern Ireland. The UK's geography is varied, and includes cliffs along some coastlines, highlands and lowlands and many islands off the coast of Scotland. The highest mountain is Ben Nevis in Scotland which reaches a height of 1 344m.

The United Kingdom is a constitutional monarchy and parliamentary democracy. The main chamber of parliament is the lower house, the House of Commons, which has 646 members elected by universal suffrage. About 700 people are eligible to sit in the upper house, the House of Lords, including life peers, hereditary peers, and bishops. There is a Scottish parliament in Edinburgh with wide-ranging local powers, and a Welsh Assembly in Cardiff which has more limited authority for Welsh affairs but can legislate in some areas.

The English account for more than 80% of the population. The Scots make up nearly 10% and the Welsh and Northern Irish most of the rest. The UK is also home to diverse immigrant communities, mainly from its former colonies in the West Indies, India, Pakistan, Bangladesh and Africa.

The economy - one of the largest in the EU - is increasingly services-based although it maintains industrial capacity in high-tech and other sectors. The City of London is a world centre for financial services.

Home of the Industrial Revolution, the United Kingdom has produced many great scientists and engineers including Isaac Newton and Charles Darwin. The father of modern economics, Adam Smith, was a Scot. English literature has produced an endless stream of poets, dramatists, essayists and novelists from Geoffrey Chaucer via Shakespeare and his contemporaries to a plethora of modern writers such as J. K. Rowling and the Nobel Prizewinner, Doris Lessing.

There are many regional and traditional specialities to tempt the visitor to the United Kingdom. For example, in Scotland you might try Arbroath smokies (lightly cooked smoked haddock), or in Northern Ireland why not start your day with an Ulster fry (fried bacon, egg, sausage, soda farls and potato bread)? A traditional speciality in Wales is laverbread (seaweed) made into small cakes with Welsh oatmeal, fried and served with eggs, bacon and cockles. A traditional dish from the north of England is the Lancashire hotpot made with lamb or beef, potatoes and onions.

Economy overview

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining; the UK has been a net importer of energy since 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output.

In 2008, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the new Conservative majority government. However, the deficit still remains one of the highest in the G7, standing at 5.1% of GDP as of mid-2015. London intends to eliminate its deficit by 2020, primarily through additional cuts to public spending and welfare benefits. It has also pledged to lower its corporation tax from 20% to 18% by 2020.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, GDP grew 1.7% in 2013 and 2.8% in 2014, accelerating because of greater consumer spending and a recovering housing market. As of late 2015, the Bank of England is examining when to begin raising interest rates from historically low levels while being cautious not to damage economic growth. While the UK is one of the fastest growing economies in the G7, economists are concerned about the potential negative impact if the UK votes to leave the EU. The UK has an extensive trade relationship with other EU members through its access to the single market and economic observers have warned an exit could jeopardize its position as the central location for European financial services.

Source: Europa, CIA World Factbook

Useful links

The Commission's Representation in the UK
European Parliament office in the UK
UK administration and public services
Tourist information

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Posted by LYN WICK at 16 October 2020, 14:15 CET
 BORIS ,HAS NOW STATED A NO DEAL WITH EU FROM 16/10/2020 ,SO NO MORE TALKS NO MORE DISCUSSIONS UNLESS EU accept UK full British exit and do a Canada deal ----------UK will not budge so do not waste your time and effort prepare for tariff,s and not fishing in UK seas .WELL DONE BORIS !