Tuesday, February 27, 2007

British economy

Among the main trends in industrial activity in Britain during the 1970s and 1980s have been the decline in heavy industry and the grouth of the offshore oil gas industries together with related products and services; the rapid development of electronic and microelectronic technologies and their application to a wide range of other sectors; and continuous rise in the services industries. Tourism, for example, is now one of Britain’s most important industries and growing source of employment.
In certain regions, older industries, such as coal, steel, shipbuilding and textiles, have steadily declined. As a result unemployment is far higher in Scotland, Wales, Northen Ireland and the North of England.
Membership of the European Community has had a major impact on Britain’s pattern of trade. The proportion of Britain’s exports of goods going to other EC countries has risen to 50%, while that going to other Commonwealth countries has fallen to 10%.
In the last years there have been important changes in ownership. The Thatcher government returned many of the nationalized industries, such as British airways, British gas and Telecom to the private sector, although other industries in the same sectors, such as British Rail[1], British Coal and the Post Office, are still publicly owned. There has also been a growing trend towards the formation of massive international corporations through mergers and acquisitions.
Britain is famous for its offshore natural gas. About half of the national consumption is used for industrial and commercial purposes, and the remainder for the household use. Britain is the world’s fifth largest oil producer, although production is expected to start declining slowly, Britain should remain a significant producer in the twenty-first century. About 80% of offshore production is brought ashore by submarine pipeline to one of the 14 refineries.
Britain was the first country in the world to have a public supply of electricity, but today it is in the process of being privatized.
Among Britain’s largest companies are the following: British Petroleum Company, Shell Transport and Trading (oil industry), B.A.T. Industries (tobacco, retailing, paper, financial services), Electricity Council, Hanson (Consumer products), Grand Metropolitan (milk prds., brewers) etc.
Less than 3% of the working population is employed in agriculture in Britain, yet the industry produces nearly two-thirds of Britain’s food requirements, with gross output accounting for about 4% of the country’s GDP. Just over three quarters of the land in Britain is used for agriculture. About three-fifths of full-time farms are devoted to dairing or beef cattle and sheep. The majority of sheep and cattle are reared in the hill and moorland areas of Scotland, Wales, Northen Ireland although beef fattening takes place in better grassland areas and arable farms. Pig production occurs in most areas, but is particularly in eastern and northen England. Britain is also broadly self-sufficient in poultry meat and eggs.
Britain is one of Europe’s most important fishing nations. The fishing industry provides about 66% of British fish supplies and it is an important source of employment and income in a number of ports.
82% of the tonnage of inland freight is carried on the roads. The car is also the most popular form of passenger transport. Railways, inland waterways, coast shipping and pipelines are important in carrying certain types of freight, particularly bulk goods. Less than 1% of Britain’s roads are motorways.
Britain had the world’s first passenger railway service (opened in 1825). Today it comprises a fast inter-city network (up to 200 km. per hour) linking the main centres of Great Britain; local stopping services; commuter services in and around large conurbations, especially London, Channel Tunnel. The main freight carried by train is coal, steel and other bulk goods.
A lot of traffic is done through ports. Traditional major ports like London, Liverpool and Manchester, have lost general (non-bulk) cargo traffic to ports like Dover and Felixstowe. Southern ports have gained importance over the last years due to increase in Britain’s connections with the continent of Europe.
Around 100 million passengers travel by air to or from Britain every year. The value of overseas trade carried by air is approximately 21.5% of the value of exports and 16.8% of imports. London’s two airports, Heathrow and Catwick, are the world’s two business airports, mainly as a result of their geographical position.
Britain is the world’s third largest trading nation, accounting for about 11% of international trade in manufactured goods. Over a quarter of total exports go to Commonwealth countries and over a third to Western Europe. The USA, Canada, Australia, India, New Zealand and the Federal Republic of Germany are among Bitain’s chief trading partners.
Britain’s role as a trading nation and as centre of the Sterling Area, which holds a quarter of the world’s population, includes a vast network of financial services, centered in the City of London. With its many famous institutions, such as the Bank of England, the Stock Exchange and Lloyd’ sand its international markets for commodities such as rubber, metals and tea, the City has for over a century held a place of first importance in world trade.

The United Kindom of Great Britain and Northern Ireland

The United Kindom of Great Britain and Northern Ireland is the political name of the country which is made of England, Scotland, Wales and Northern Ireland (sometimes known as Ulster). Several islands off the British coast are also part of the UK (for example, the Isle of Wight, the Orkneys, Hebrides and Shetlands, and the Isles of Scilly), although the Channel Islands and the Isle of Man are not. However, all these islands do recognize the Queen.
The British Isles is the geographical name that refers to all the islands off the north-west coast of the European continent: Great Britain, the whole of Ireland (Northern and Southern), the Channel Islands and the Isle of Man. But it is important to remember that Southern Ireland – that is the Republic of Ireland (also called “Eire”) – is completely independent.
Britain is one of the world’s smallest countries with an area of some 244,100 square kilometers; with some 56 million people, it ranks about 14th in terms of population. About half the people live in a large belt stretching north-westwards from London across England. Other large concentrations of population are in the central lowlands of Scotland, south-east Wales and the Bristol area, parts of north-east England and along much of the English Channel coast.
The climate is generally mild and temperate. The average range of temperature between winter and summer is greatest in inland, in the eastern part of the country. During a normal summer the temperature occasionnaly rises above 30°C in the south: winter temperatures below -10°C are rare. January and February are usually the coldest months, July and August – the warmest.
The landscape is rich and varied, sometimes showing marked contrast within short distances, particularly on the coasts. Most of the land is agricultural, of which over one third is arable, growing various crops, and the rest pasture and grazing. Woodlands cover about 8% of the country. Britain has neither towering mountain ranges, not impressively large rivers, plains or forests. But this doesn’t mean that its landsape is boring. What it lacks in grandeur it makes up for in variety. The south and east of the country is comparatively low-lying, consisting of either flat plains or gently rolling hills. Mountainous areas are found only in the north and west, although these regions also have flat areas.