European Economies

United Kingdom

Introduction

• United Kingdom has given a lot to the world, from shake spears to industrial revolution.

• United Kingdom has a Mixed economic system Its actually closer to a market economy than any other European country

• United Kingdom is economically strong; one of the world’s leading industrial powers

Natural Resources

•Coal, petroleum, natural gas, iron ore, lead, zinc, gold, tin, limestone, salt, clay, chalk, gypsum, potash, silica sand, slate, arable land

Land Use• 28% of the land is arable (capable of being formed)

• What are the major agricultural products? Cereals, oilseed, potatoes, vegetables, cattle, sheep, poultry, and

fish

Industries • Machines tools, electric power equipment, automation

equipment, railroad equipment, shipbuilding, aircraft, motor vehicles, communication devices, metals, chemicals, coal, petroleum, textiles, food processing, clothing, and other consumer goods

• Uk’s Unemployment Rate 7.9% (2009)

• Percentage of people live in poverty 14%

• UK’s GDP was $2.31 trillion (2008)

• GDP Per Capita– What is the value of goods and services produced per person?

35,100 (2007)

UK’s Economic Problems• Unemployment

• Over depletion of natural resources (pollution)

• Improving public services (which forces the country to raise taxes)

Luxembourg

introduction Richest country in the continent of Europe GDP per capita

based on population size.

Having a population of just 0.54 million, has a much higher GDP per capita which is 110,697.03 U$D (2013).

• Since World War II, the economy of Luxembourg has been marked by high income levels and low unemployment.

It's economic success has been due to the skills of its people. The nation has one of the world's most educated labor forces.

In 2003,Unemployment rate was the lowest in Europe at 2.9 percent Inflation rate was only 1.1 percent ,that is 0% according to new

economy report.

The GDP is 60.13 billion USD (2013)

The economy of Luxembourg is largely dependent on the banking, steel, and industrial sectors.

Banking Banking and financial services are now the main

considerations in the economy. In 2000 there were 222 banks in the country with 21,458

employees (9.5 percent of the workforce).

Steel Industory• As the steel industry declined in the 1970s,

Luxembourg restructured its steel producers into a single entity, ARBED, a multinational group which is among the most important steelmakers in the world.

• Steel still accounts for 29 percent of the exports, 1.8 percent of the GDP, and 3.9 percent of employment.

ARBED INDUSTORY IN 1991

• Luxembourg in tourist literature is called by "Green Heart of Europe“.

• Luxembourg has a number of minor rivers, such as the Alzette, and the Pétrusse.

Agriculture The GrandDuchy’s small but productive agricultural sector is

highly subsidized both from the government and the European Union.

Vineyards in the Moselle Valley produce up to 15 million liters of wine a year