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41. The place of Britain in the world economy. Chief industries.

GB has lost its former position of the leading industrial nation of the world. Britain today is fifth in size of its gross domestic product. As a result of World War I the country lost its monopoly in world trade. After World War II Britain lost its colonial empire and experienced an accelerated growth of monopolies.

The monopolies in the country lay special emphasis on the development of such branches of the manufacturing and chemical industries which require high-skilled labour. A number of industries such as aerospace, chemicals, oil, gas, electronics, and biotechnology have gained strength while textiles and some other traditional industries, including steel and shipbuilding, have contracted. The British economy is primarily based on private enterprises. Part of public transport, industrial products, the coal mines, some steel, manufacturing plants are managed by the state. The atomic industry is also within the public sector. The national economy of GB is vitally dependent on foreign trade. About a third of the industrial products of the country is exported. Agriculture supplies nearly two-thirds of the country's food.

Chief industries in GB include:

electricity;

the mechanical engineering industry;

the electrical and electronic engineering industry;(

the motor vehicle (Ford, Chrysler, Rover, etc);

aerospace industry;

shipbuilding;

the chemical industry (chemicals, soap, detergents, dyestuffs, fertilizers, mineral oil refining);

the textile industry (cotton, wool);

leather and footwear industry;

the food, drink and tobacco industries;

the pottery industry;

paper and board manufacture.

42. Agriculture. Transport and communication. Overseas trade.

Agriculture supplies nearly 2/3s of the country's food.

Britain is self-sufficient in milk, eggs, meat, potatoes, wheat. However she needs to import butter, cheese, sugar, and some other agricultural products. Britain's second source of food is the surrounding sea. The fishing industry provides about 70% of British fish supplies Forestry. Woodland covers about 9% of the total land area of the country. Britain imports 90% of its timber needs from Scandinavia and ex-USSR countries.

Transport and communication.

Passenger and freight traffic is carried mainly by road. Railways, pipelines and inland waterways are important in carrying certain types of freight, particularly bulk goods. The railway and much of the bus industry are state owned, but road haulage is almost entirely in the hands of private enterprises. There are underground railway services in three British cities: London, Glasgow, and Liverpool. The most ambitious project is the English Tunnel - a fixed railway link across the English Channel between Britain and France.

London is served by two major airports - Heathrow and Gatwick. Of these, Heathrow is far more important and dominant among other British airports.

Overseas trade presents a combination of export and import. In exports manufactured goods include machinery, transport equipment, chemicals, petroleum, in imports - different manufactured goods, food and crude oil (petroleum).

An important part of overseas trade consists of what are called 'invisible exports'. These are not actual goods, but they represent services paid for by foreigners. Tourism, organized by what is usually called the tourist industry, is an important part of this group. Another part is represented by services of the large insurance companies. Other invisible exports include the services to foreigners of British bankers. Engineers, scientists and technical experts of many kinds

Historically England proper is divided into the following economic regions: the South Industrial and Agricultural region, Central England, or the Midlands, Lancashire, Yorkshire and North England. [Wales, Scotland and N. Ireland are also regarded as independent economic regions of the UK. Hence, the whole country consists of eight economic regions.

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