United Kingdom, geographically, is divided into various regions like Wales, England, Scotland and North Ireland. It shows quite diversity in terms of resources. There are farms, forests, fishing grounds, mines all throughout UK. The economy of UK is one of the most developed in the world, even the GDP is very high compared to many countries. The three main sectors contributing to the UK economy are Industrial, Service Industry and Agriculture with Service Industry contributing the most.
Industrial sector: UK is the birthplace of the Industrial Revolution and hence the industrial sector is much more developed and stands ninth in the world in terms of Industrial sector’s contribution. The sector contributes nearly 22% to the UK economy. The main sectors are Energy, Manufacturing and Mining. The major manufacturing sectors are automobile, aerospace and food industry. UK has nearly 2200 active mines of Natural Gas, oil and coal.
Service Industry: It is the most contributing sector to the UK economy. It contributes to nearly 77% of the economy. UK stands seventh in the world in terms of the contribution from service sector. The service industries that are most contributing are financial and banking, education, healthcare, retail, creativity and tourism.
Agriculture and allied industries: Agriculture does not have a big share in the economy but UK produces nearly 60% of its food needs being fulfilled by the home country. UK has extremely developed technology for agriculture and allied industries like fishery and forestry. Hence it doesn’t need much labour force. The farmlands of UK extend up to 43 million acres. UK is a sea locked country giving great opportunity for fishing industry to flourish. Timber is mainly found in the forests of UK. These three sectors do not support the economy as much as the resources they have. These sectors need attention and can have a lion’s share in the economy and GDP. It depends on your ability or willingness to experiment. One can dive into the already developed industrial or service sector. One can also explore the declining agricultural and allied sectors. UK as a location and as a market as well has a lot to offer.
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