Overall Market Condition of the UK

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Overall Market Condition of the United Kingdom

According to the Wikipedia, the United Kingdom is treated to be one of the major economic powers, with the second largest economy in Europe after Germany, measured by the gross domestic product (GDP) in nominal terms having a value of $2.828 trillion as of 2014, and eighth in the world which is measured by the purchasing power parity (PPI) with $2.497 trillion value. Its currency, the pound sterling, is the world’s third largest currency reserve after the US dollar and the euro with an exchange rate of £1.70 to $1. It is also fourth most traded currency in the foreign exchange market after the United States dollar, the European Union’s euro and the Japanese yen, with a percentage daily share of almost 11.8%. As of 2013, the country is the 4th largest exporter and importer. It is also the second largest stock of inward and outward direct foreign investment. The UK is considered to be one of the most globalized economies. Its capital London has the largest city GDP in Europe .
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The UK’s economy is composed of different major industries such as aerospace, agriculture, automotive, financial service, pharmaceutical and biotechnology, healthcare, construction and real estate, transportation, energy, and chemicals, among others. Due to these, the country maintains its position as one of the top exporters and importers in the world. The British economy is also boosted by the production of North Sea oil and gas, which have reserves with estimated value of £250 billion in 2007.

The country was the first one to be industrialized in the eighteenth century and made significant contributions in the nineteenth century. ...

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