United Kingdom

The UK, a leading trading power and financial center, is one of the quartet of trillion dollar economies of Western Europe. Over the past two decades the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labour force. The UK has large coal, natural gas, and oil reserves; primary energy production accounts for 10% of GDP, one of the highest shares of any industrial nation. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance.

The economy is one of the strongest in Europe; inflation, interest rates, and unemployment remain low. The relatively good economic performance has complicated the Blair government's efforts to make a case for Britain to join the European Economic and Monetary Union (EMU). During recent years, the government has been speeding up the improvement of education, transport, and health services.

Britons watch the most television among Europeans. 37 of the nation's 400 TV channels are dedicated to home shopping or infomercial programming. The BBC, the leading European radio and television broadcasting corporation, holds a 10.2% of the European market. Currently, radio is the most popular day-time medium in the United Kingdom, reaching 92% of the population. The UK newspaper market is huge. Also the magazine sector has been growing steadily over the past decade.

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