 The United Kingdom of Great Britain and Northern Ireland is a sovereign state located off the northwestern coast of continental Europe. It is an island country, spanning an archipelago including Great Britain, the northeastern part of Ireland, and many small islands.
The United Kingdom is a constitutional monarchy and unitary state consisting of four countries: England, Northern Ireland, Scotland and Wales. The UK is a developed country, with the world’s sixth largest economy by nominal GDP and the seventh largest by purchasing power parity. It was the world’s first industrialised country and the world’s foremost power during the 19th and early 20th centuries but the economic cost of two world wars and the decline of its empire in the latter half of the 20th century diminished its leading role in global affairs. The UK nevertheless remains a major power with strong economic, cultural, military, scientific and political influence. It is a recognised nuclear weapons state and has the third highest defence spending in the world. It is a Member State of the European Union, a permanent member of the United Nations Security Council, and is a member of the Commonwealth of Nations, G8, G20, NATO, OECD, and the World Trade Organization. The British motor industry is a significant part of this sector, although it has diminished with the collapse of the MG Rover Group and most of the industry is foreign owned. Civil and defence aircraft production is led by the second-largest defence contractor in the world, BAE Systems, and the continental European firm EADS, the owner of Airbus. Rolls-Royce holds a major share of the global aerospace engines market. The chemical and pharmaceutical industry is strong in the UK, with the world’s second and sixth largest pharmaceutical firms (GlaxoSmithKline and AstraZeneca, respectively) being based in the UK. The UK service sector, however, has grown substantially, and now makes up about 73% of GDP. The service sector is dominated by financial services, especially in banking and insurance. London is the world’s largest financial centre with the London Stock Exchange, the London International Financial Futures and Options Exchange, and the Lloyd’s of London insurance market all based in the City of London. London is a major centre for international business and commerce and is the leader of the three “command centres” for the global economy (along with New York City and Tokyo). It has the largest concentration of foreign bank branches in the world. In the past decade, a rival financial centre in London has grown in the Docklands area, with the HSBC, the world’s largest bank, and Barclays Bank relocating their head offices there. Many multinational companies that are not primarily UK-based have chosen to site their European or rest-of-world headquarters in London: an example is the US financial services firm Citigroup. The Scottish capital, Edinburgh, has one of the large financial centres of Europe and is the headquarters of the Royal Bank of Scotland Group, one of the world’s largest banks. Population: 61,113,205 (2009) Please upgrade your Flash Player
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