Economy of the united kingdom

ECONOMY OF THE UNITED KINGDOM

Basic data:

• The national economy of The United Kingdom is:
• the 6th largest in the world*
• The 3rd largest in Europe*
• The UK's GDP per capita ($36,941; Poland=$21,310) is the 22nd-highest in the world
• In 2012, the UK was the 11th-largest exporter in the world and the 6th-largest importer

* measured by nominal GDP (Gross Domestic Product)

Basic data:

• GDP growth = 2.6% (2014-2015) (Poland=3.4%)
• GDP by sector
• Agriculture: 0.7%
• Industry: 21.1%
• Services: 78.2%
• Inflation = 0.1% (Poland=0.7%)
• Unemployment = 5.5% (Poland=10.6%)
• Average gross salary £2.480 / €3.373 / $3.814 monthly (2014) – (Poland= 976 € / 1.320 $ in 2014)

Basic data:

• Main export partners
• Germany 11.5%,
• United States 10.6%,
• Netherlands 8.9%,
• France 7.4%,
• Republic of Ireland 6.0%,
• Belgium 5.1% (2012)

• Main import partners
• Germany 12.5%,
• China 8.1%,
• Netherlands 7.3%,
• United States 6.8%,
• France 5.3%,
• Belgium 4.4%

Basic data:

• Taxation in the UK involves payments to at least two different levels of government: local government and central government (HM Revenue & Customs).
• Local government is financed by grants from central government funds, business rates, council tax and from fees and charges such as those from on-street parking.
• Central government revenues are mainly income tax, national insurance contributions, value added tax, corporation tax and fuel duty.

UK tax year date : 6th April 2013 - 5th April 2014
Income Tax Rates	2013 - 14
Starting rate for savings	10% £0 - £2,790
Basic tax rate	20% £0 - 32,010
Higher tax rate	40% Over £32,010
Additional rate	45% Over £150,000