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Economy Stats: compare key data on Mayotte & United Kingdom

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Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues > Per capita: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Exports > Commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Labor force: This entry contains the total labor force figure.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
  • Currency: The national medium of exchange and its basic sub-unit.
  • GDP > Purchasing power parity > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Trade > Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • GDP > CIA Factbook > Per capita: Per capita figures expressed per 1 population.
  • GDP > Per $ GDP: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per $ GDP figures expressed per 1 $ gross domestic product.
  • Trade > Exports: The total US dollar amount of exports on an f.o.b. (free on board) basis.
  • Imports > Commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Electricity > Consumption: This entry consists of total electricity generated annually plus imports and minus exports, expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution.
  • Budget > Expenditures > Per capita: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
STAT Mayotte United Kingdom HISTORY
Budget > Expenditures $394.00 million
Ranked 150th.
$1.19 trillion
Ranked 6th. 3010 times more than Mayotte

Budget > Revenues $420.00 million
Ranked 147th.
$986.10 billion
Ranked 6th. 2348 times more than Mayotte

Budget > Revenues > Per capita $2,333.33 per capita
Ranked 59th.
$18,987.68 per capita
Ranked 15th. 8 times more than Mayotte

Overview Economic activity is based primarily on the agricultural sector, including fishing and livestock raising. Mayotte is not self-sufficient and must import a large portion of its food requirements, mainly from France. The economy and future development of the island are heavily dependent on French financial assistance, an important supplement to GDP. Mayotte's remote location is an obstacle to the development of tourism. The UK, a leading trading power and financial center, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.
Exports $6.50 million
Ranked 4th.
$473.00 billion
Ranked 10th. 72769 times more than Mayotte

Exports > Commodities ylang-ylang (perfume essence), vanilla, copra, coconuts, coffee, cinnamon manufactured goods, fuels, chemicals; food, beverages, tobacco
Fiscal year calendar year 6
GDP > Per capita $5,297.78 per capita
Ranked 96th.
$35,046.59 per capita
Ranked 21st. 7 times more than Mayotte

GDP > Per capita > PPP $4,900.00
Ranked 12th.
$36,600.00
Ranked 21st. 7 times more than Mayotte

GDP > Purchasing power parity $953.60 million
Ranked 8th.
$2.31 trillion
Ranked 8th. 2426 times more than Mayotte

Imports $341.00 million
Ranked 3rd.
$643.50 billion
Ranked 5th. 1887 times more than Mayotte

Industries newly created lobster and shrimp industry, construction machine tools, electric power equipment, automation equipment, railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, petroleum, paper and paper products, food processing, textiles, clothing, other consumer goods
Inflation rate > Consumer prices 1.7%
Ranked 162nd.
2.8%
Ranked 126th. 65% more than Mayotte

Labor force 44
Ranked 64th. 38% more than United Kingdom
32
Ranked 83th.

Unemployment rate 25.4%
Ranked 4th. 3 times more than United Kingdom
8%
Ranked 51st.

Agriculture > Products <a href=/encyclopedia/vanilla-sex>vanilla</a>, ylang-ylang (perfume essence), coffee, copra cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry; fish
Currency euro British pound
GDP > Purchasing power parity > Per capita $5,297.78 per capita
Ranked 97th.
$35,046.59 per capita
Ranked 21st. 7 times more than Mayotte

Exchange rates euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000) British pounds (GBP) per US dollar -<br />0.63 (2012 est.)<br />0.62 (2011 est.)<br />0.65 (2010 est.)<br />0.62 (2009)<br />0.53 (2008)
GDP > CIA Factbook $466.80 million
Ranked 171st.
$1.67 trillion
Ranked 6th. 3569 times more than Mayotte

Trade > Exports to US 0.0
Ranked 212th.
$10.17 billion
Ranked 6th.
Trade > Imports $341.00 million
Ranked 161st.
$546.50 billion
Ranked 6th. 1603 times more than Mayotte

GDP > CIA Factbook > Per capita $2,812.05 per capita
Ranked 115th.
$27,961.52 per capita
Ranked 16th. 10 times more than Mayotte

GDP > Per $ GDP $5,297.78 per $1 of GDP
Ranked 96th.
$35,046.59 per $1 of GDP
Ranked 21st. 7 times more than Mayotte

Trade > Exports $6.50 million
Ranked 168th.
$405.60 billion
Ranked 10th. 62400 times more than Mayotte

Imports > Commodities food, machinery and equipment, transportation equipment, metals, chemicals manufactured goods, machinery, fuels; foodstuffs
Labor force per thousand people 0.19
Ranked 83th. 377 times more than United Kingdom
0.000505
Ranked 108th.

Electricity > Consumption 139.2 million kWh
Ranked 1st.
344.7 billion kWh
Ranked 9th. 2476 times more than Mayotte

Budget > Expenditures > Per capita $2,188.89 per capita
Ranked 59th.
$20,386.26 per capita
Ranked 13th. 9 times more than Mayotte

Trade balance with US $100,000.00
Ranked 96th.
$-1,454,200,000.00
Ranked 202nd.

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbook 2010, 2011, 2012, 2013; US Census Bureau; CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.

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