Download Economic situation of Great Britain

Economic situation of Great
Britain, bank system, industry
and agriculture
Maria Komarova
 Economic situation of Great Britain
 Bank system
 Industry
 Agriculture
Economic situation of Great Britain
The United Kingdom is a major develop capitalist
economy. It is currently the world's sixth largest by
nominal GDP. It is the third largest economy in
Europe after Germany's and France's in nominal
terms, and the third largest after Germany's and
Russia's in terms of purchasing power parity.
Money
Modern decimal coinage of the UK was introduced in
1971
 Britain’s currency is the pound of sterling
 Which is divided into 100 pence (p)
The new coins in circulation are as follows:
Coppers
One penny
Two pence
Silver
Five pence
Ten pence
Twenty pence
Fifty pence
Gold
One pound
Banknotes
 English banknotes all denominations always feature
the Queen’s head on one side
 Scotland has its own banknotes
Plastic money
 Credit cards
 Cash cards
 Cheque cards
If all the cards in the UK
were laid end to end,
they would stretch from
the doors of the Bank of
England to the shores of
Africa
Bank system
 retail banking, dealing directly with individuals and




small businesses;
business banking, providing services to mid-market
business;
corporate banking, directed at large business
entities;
private banking, providing wealth management
services to high net worth individuals and families;
investment banking, relating to activities on the
financial markets.
Banks of the UK offer a wide range of services:
 Personal loans;
 Standing orders;
 Personal pensions;
 Executor services;
 Overdraft facilities.
Bishopsgate, in the City of London
Bank of England (the Governor and Company of
the Bank of England)
 The Bank was privately
owned and operated
from its foundation in
1694 until it was
nationalized in 1946. In
1997 it became an
independent public
organization, whollyowned by Government,
with independence in
setting monetary policy.
 The Bank has a
monopoly on the issue of
banknotes in England
and Wales, although not
in Scotland or Northern
Ireland.
Industry
 machine tools,
 electronic machinery,
 industrial equipment,
 computers,
 scientific equipment,
 processed metals,
 shipbuilding,
 chemical products,
 aircraft,
 coal mining,
 motor vehicles and parts,
 oil production,
 textiles,
 food processing and
 clothing
 paper,
other consumer goods
A Rolls-Royce Trent
900 engine on the
wing of an Airbus A380
Energy
Services
 large coal,
 banking,
 natural gas
 insurance,
 oil reserves;
 business services,
The UK retains a significant, although vastly
reduced, fishing industry. Its fleets, based in towns
such as Kingston upon Hull, Grimsby, Fleetwood,
Great Yarmouth, Peterhead, Fraserburgh, and
Lowestoft, bring home fish ranging from sole to
herring.
Agriculture
 Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about
60% of food needs with less than 2% of the labor
force. It contributes around 2% of GDP.
Agriculture products
 cereals,
 potatoes,
 vegetables;
 cattle,
 sheep,
 poultry;
 fish
 In the north-west of England, Wales and Scotland,
farmers keep cattle and sheep. Sheep can survive the
cold winters on the hills and moors.
 In the east of England (East Anglia), wheat, barley
and vegetables grow in enormous fields.
 In the south-west of England, the rich grass is ideal
for feeding dairy cows.