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National Economy. Main industries

Britain lives by its industry and trade. With a population representing only 2 per cent of the world total, it is one of the largest trading nations in the world, providing about 10 per cent of world exports of manufactured goods.

Britain is a highly industrialized country and today 28 people work in manufacturing, mining and building for every one engaged in agriculture. Britain's major industries include iron and steel engineering, including motor vehicles and aircraft, electrical and electronics manufacturing, textiles, chemicals, etc. The textile industry is considered to be the most extensive one: immense quantities of cotton and woolen goods and artificial silk are produced and exported. But great disadvantage of its economy is that it possesses very few of the raw materials necessary for its industry. Most of them must be imported.

The heart of Englands industry are the Midlands. The textile and metal working industries have grown up there in and near the iron ore and coal mining districts. Birmingham is an important industrial centre in the Midlands. One can find any type of production here, from steel smelting to manufacturing the most delicate articles: from motor cars & railway engines to pins and buttons.

Britain is also a big market for food and other consumer goods, British agriculture, though highly efficient, produces just about two-thirds on the country's food requirements. The main grain crops are wheat, barley, oats and rye potatoes and vegetables are grown in all parts of Britain. A wide over the country.

In order to pay for the food and other materials it needs, Britain relies not only on the sales of manufactures. The City contains probably the greatest concentration of financial expertise in the world. The London Stock Exchange, with its vast experience and world wide network of communications, is one of the world's markets in securities. Other important financial institutions in the City include the Bank of England as well as hundreds of commercial banks, British and foreign, and several large international commodity markets, for example for metals, rubber, grain, cocoa, coffee and tea.

There are also a few hydro-electric schemes, especially in Scotland. The main centre of coal-mining is Wales. With the discovery and exploitation of oil and natural gas from the bed of the North Sea, Britain has become self-sufficient in these kinds of energy. Nuclear power stations produce about 10 per cent of Britain's electricity although most electricity is produced by coal-fired or oil-fired power stations.

After Britain joined the European Economic Community, its foreign trade expanded substantially. Britain imports huge quantities primary products and exports about a third of its manufactured goods. Nowadays, there appeared additional opportunities t pnd the volume of British trade after signing wide-scale trade agreements with the republics of CIS. The Republic of Belarus is a_reliable partner nd wide-scale, trade contacts would be beneficial for both sides.


Date: 2015-04-20; view: 1449

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