United Kingdom is the 5th largest economy by Nominal GDP and the 10th largest by Purchasing Power Parity.
The GDP of UK is $2.945 trillion.
United Kingdoms is a member of the European Union. The UK economy comprises (in descending order of size) the economies of England, Wales, Scotland and Northern Ireland. The GDP growth YOY is 2.6%. GDP per capita is $48322 nominally. Services contributes 78.4% to the GDP followed by production at 14.6%. Agriculture comprises only 0.6% of the GDP but it is intensive, highly mechanised and serves 60% of the food needs. Services include creative services, education, health, social work, hotels and restaurants, public administration, financial and business services, defence, real estate, lending activities, logistics and tourism. Inflation in May 2015 was 0.1%. 16.6% of the population is below poverty line. The poverty line in the UK is commonly defined as 60% of the median of household income. Poverty line in UK is different for different segments. It is £115 per week for single adults with no children, £199 per week for couples with no children and £195 per week for single adults with two children of age less than 14; and £279 per week for couples with two children less than 14 years of age. In 2007–2008, 13.5 million people, or 22% of the population, lived below this line. Poverty is a relative term in relation to the other members of the European Union. The size of the labour force is 31.05 million and 79.7 % of this force is employed in services sector. Unemployment stood at 5.5% in March 2015, United Kingdom ranks 8th in the ease of doing business index.