MP Rana

UK economy is tagged as one of the five largest economies of the world. The major sources that generate and add up to the GDP growth rate are the business and financial service sectors. These two sectors hold a major portion in the income of UK and are estimated at about serving 70 percent in the GDP. This economy is looked at as a main attraction for all the other economies of the world to carry trade and commerce and extract alluring profits. One if the basic reason of it being the magnetism for trade is its low taxation policies and less intervention by the administration.

UK enjoy being at the 12th position in the record of 177 countries, listed in order of providing the successful human development index ratio. The UK economy delivers a promising income sources to its people along with providing all the basics and the luxuries needed.

Putting a glance at its sectoral overview, some important components of the service industries are the health care, real estate and hospitality. On the other hand, food chains are under the control of financial services including insurance and banking. The agricultural sector is quite weak and need to be focused on, as the 60% of food requirements are fulfilled by the mechanized production techniques.

Apart from the above mentioned, the oil, gas and coal reserves are found in abundance and UK economy is served with around 10 percent by all these resources. The level of inflation in the UK economy is measured by the Consumer price index and displays apt figures needed to maintain economic stability.