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The economy of the United Kingdom is a highly developed social market economy. [ 26][ 27][ 28] It is the sixth-largest national economy in the world measured by nominal gross domestic product (GDP), ninth-largest by purchasing power parity (PPP), and twenty-first by nominal GDP per capita, constituting 3.1% of nominal world GDP. [ 29]
The following is a list of the exports of the United Kingdom. The UK exports to 160 nations. The UK is the fifth largest exporter. Data is for 2019, in millions of USD (United States dollars), as reported by International Trade Centre. Currently the top fifty exports are listed. #
Its members' main business was the export of cloth, especially white (undyed) woollen broadcloth. This enabled them to import a large range of foreign goods. [19] [20] Given the trade conditions of the time, England came up with a public policy to increase Armenian merchants’ involvement in English trade to pursue its commercial interests.
John Lewis is the UK's largest employee-owned business. [299] Aston Martin manufacture vehicles in Gaydon, England. The British automotive industry employs around 800,000 people, with a turnover in 2022 of £67 billion, generating £27 billion of exports (10% of the UK's total export of goods). [300]
History. Manufacturing in the United Kingdom expanded on an unprecedented scale in the 19th century. Innovation in Britain led to revolutionary changes in manufacturing, the development of factory systems, and growth of transportation by railway and steam ship that spread around the world. [ 4] Its growth was driven by international trading ...
v. t. e. International business refers to the trade of Goods and service goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and ...
United Kingdom commercial law. Goods being transported by container ship. United Kingdom commercial law is the law which regulates the sale and purchase of goods and services, when doing business in the United Kingdom .
The Export Credits Guarantee Department ( ECGD ), branded as UK Export Finance ( UKEF ), is the export credit agency and a ministerial department of the Government of the United Kingdom . In 1920, UKEF had a maximum total exposure of just £26 million. Today, its maximum commitment stands at £50 billion.