The united kingdom has a mixed economy based on the capitalist system on free trade and global economic, despite its limits being established by the government 'a capitalist economic system is one characterised by free markets and the absence of government intervention in the economy. Bilateral economic relations the united kingdom is a member of the european union and a major international trading power in march 2019, the united kingdom will be outside of the eu.
The united kingdom has a fiercely independent, developed, and international trading economy that was at the forefront of the 19th-century industrial revolution the country emerged from world war ii as a military victor but with a debilitated manufacturing sector.
Trade is significant for the united kingdom’s economy the combined value of exports and imports equals 58 percent of gdp the average applied tariff rate is 16 percent nontariff barriers impede some trade. The united kingdom is made up of england, scotland, wales, and northern ireland it has the fifth largest national economy—measured by nominal gdp—in the world, and the second largest in europe in 2013, the united kingdom (uk) was the world's fourth largest exporter and importer.
United kingdom - trade: trade has long been pivotal to the united kingdom’s economy the total value of imports and exports represents nearly half the country’s gdp (by comparison, the value of foreign trade amounts to about one-fifth of the gdp of the united states) the volume of both the exports and the imports of the united kingdom has grown steadily in recent years. Germany provides 13 percent, france 9 percent, the netherlands 7 percent, and italy 5 percent the united kingdom has trade treaties with 90 different nations the strength of the british pound and the state of the economy has made the united kingdom an attractive investment area for foreign investors.
United kingdom: distribution of gross domestic product (gdp) across economic sectors from 2007 to 2017 distribution of gdp across economic sectors in the united kingdom 2017. United kingdom - international trade the united kingdom's economy is dependent on foreign trade the government supports free and unrestricted trade and has championed international trade organizations such as the world trade organization and the eu.
The united kingdom is the 10th largest export economy in the world in 2016, the united kingdom exported $374b and imported $609b, resulting in a negative trade balance of $235b in 2016 the gdp of the united kingdom was $265t and its gdp per capita was $427k. The united kingdom and united states are holding scoping discussions to determine how best to deepen and broaden the bilateral economic relationship, including ensuring continuity through brexit and laying the groundwork for a possible free trade deal in the future the united kingdom is a large source of foreign tourists visiting the united states. 2018 : us trade in goods with united kingdom note: all figures are in millions of us dollars on a nominal basis, not seasonally adjusted unless otherwise specified details may not equal totals due to rounding.
The economy of the united kingdom is highly developed and market-oriented   it is the fifth-largest national economy in the world measured by nominal gross domestic product (gdp), ninth-largest measured by purchasing power parity (ppp), and nineteenth-largest measured by gdp per capita , comprising 35% of world gdp.