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(Last updated: 27 Mar 2008)
Country facts
| Capital city: |
London |
| Surface area: |
243,000 sq km |
| Population: |
60.5 million |
| Official language(s): |
English |
| Government: |
Constitutional monarchy |
| Head of State: |
H.M. Queen Elizabeth II |
| Head of Government: |
Prime Minister The Rt. Hon. Gordon Brown |
| Australian exports to the UK: |
A$6,154 million |
| Australian imports from the UK: |
A$7,407 million |
| The UK's principal export destinations: |
USA, France, Germany |
| The UK's principal import sources: |
Germany, USA, France |
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Economic climate
Recent polls show that consumer confidence in the UK is stronger than almost anywhere else in Europe, even though it is the second-most expensive country in Europe. The Netherlands and Italy are 10 per cent cheaper, while Spain, Greece and Portugal are all 20 per cent cheaper than the UK.
While the UK is part of the European Union (EU), it is not a signatory to Economic and Monetary Union (EMU). This means that the Pound Sterling was retained in January 2002 when EMU members gave up their local currencies to the Euro.
Key economic indicators and statistics for 2007:
- GDP – US$2755.9 billion
- GPD per capita – US$45,301
- Real GDP growth – 3.1 per cent
- Inflation – 2.4 per cent
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Political climate
The UK has a stable parliamentary democracy, and is a constitutional monarchy, with Her Majesty Queen Elizabeth II as the head of state. Gordon Brown is the current Prime Minister, with a popularly elected House of Commons and selective House of Lords.
While they are considered to be one country (and known collectively as the UK), Scotland, Wales and Northern Ireland each have devolved governments, but also elect representatives to the House of Commons in London. Scotland has separate powers for education, health, justice and finance.
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Trade relations and statistics
As member of the European Union (EU), the UK enjoys freedom of movement of goods with other member countries, and the harmonisation of trade standards.
Major Australian exports to the United Kingdom (2006-07):
- Non-monetary gold – A$1,861 million
- Alcoholic beverages – A$978 million
- Coal – A$522 million
- Lead – A$268 million
Major Australian imports from the United Kingdom (2006-07):
- Non-monetary gold – A$1,355 million
- Medicaments (including veterinary) – A$1,097 million
- Printed matter – A$343 million
- Passenger motor vehicles – A$329 million
(Source: Department of Foreign Affairs and Trade – Country economic fact sheet) |
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