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Economy Stats: compare key data on United Kingdom & Wallis and Futuna

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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.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • 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.
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
  • Debt > External: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services.
  • Debt > External > Per capita: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services. Per capita figures expressed per 1 population.
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Labor force: This entry contains the total labor force figure.
  • 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
  • Labor force > By occupation > Agriculture: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
    Additional details:
    • Gibraltar: negligible (2013)
  • Labor force > By occupation > Services: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • 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.
  • 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.
  • Labor force > By occupation > Industry: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
STAT United Kingdom Wallis and Futuna HISTORY
Budget > Expenditures $1.19 trillion
Ranked 6th. 37855091 times more than Wallis and Futuna
$31,330.00
Ranked 23th.

Budget > Revenues $986.10 billion
Ranked 6th. 33168517 times more than Wallis and Futuna
$29,730.00
Ranked 223th.

Budget > Revenues > Per capita $18,987.68 per capita
Ranked 15th. 10143 times more than Wallis and Futuna
$1.87 per capita
Ranked 24th.
Debt > Government debt > Public debt, share of GDP 90 CIA
Ranked 17th. 16 times more than Wallis and Futuna
5.6 CIA
Ranked 147th.
Overview 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. The economy is limited to traditional subsistence agriculture, with 80% of labor force earnings from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. About 4% of the population is employed in government. Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia.
Exports $473.00 billion
Ranked 10th. 9968388 times more than Wallis and Futuna
$47,450.00
Ranked 14th.
Exports > Commodities manufactured goods, fuels, chemicals; food, beverages, tobacco copra, chemicals, construction materials
Fiscal year 6 calendar year
GDP > Per capita $35,046.59 per capita
Ranked 21st. 9 times more than Wallis and Futuna
$3,778.34 per capita
Ranked 13th.
GDP > Per capita > PPP $36,600.00
Ranked 21st. 10 times more than Wallis and Futuna
$3,800.00
Ranked 7th.

GDP > Purchasing power parity $2.31 trillion
Ranked 8th. 38550 times more than Wallis and Futuna
$60.00 million
Ranked 9th.

Imports $643.50 billion
Ranked 5th. 10520 times more than Wallis and Futuna
$61.17 million
Ranked 11th.
Inflation rate > Consumer prices 2.8%
Ranked 126th. The same as Wallis and Futuna
2.8%
Ranked 7th.

Public debt 88.7% of GDP
Ranked 19th. 16 times more than Wallis and Futuna
5.6% of GDP
Ranked 2nd.

Unemployment rate 8%
Ranked 51st.
12.2%
Ranked 10th. 53% more than United Kingdom

Debt > External $10.09 trillion
Ranked 2nd. 2749319 times more than Wallis and Futuna
$3.67 million
Ranked 16th.

Debt > External > Per capita $171,942.20 per capita
Ranked 3rd. 744 times more than Wallis and Futuna
$231.11 per capita
Ranked 26th.
Industries 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 copra, handicrafts, fishing, lumber
Labor force 32
Ranked 83th. 11 times more than Wallis and Futuna
3
Ranked 187th.

Agriculture > Products cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry; fish coconuts, breadfruit, yams, taro, bananas; pigs, goats; fish
Currency British pound Comptoirs Francais du Pacifique franc
GDP > Purchasing power parity > Per capita $35,046.59 per capita
Ranked 21st. 9 times more than Wallis and Futuna
$3,778.34 per capita
Ranked 13th.
Exchange rates 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) Comptoirs Francais du Pacifique francs (XPF) per US dollar -<br />90.01 (February 2012)<br />87.59 (2007)
GDP > CIA Factbook $1.67 trillion
Ranked 6th. 28929 times more than Wallis and Futuna
$57.59 million
Ranked 173th.

Trade > Exports to US $10.17 billion
Ranked 6th.
0.0
Ranked 224th.
Labor force > By occupation > Agriculture 1.4%
Ranked 176th.
80%
Ranked 19th. 57 times more than United Kingdom

Labor force > By occupation > Services 80.4%
Ranked 1st. 5 times more than Wallis and Futuna
16%
Ranked 6th.
Trade > Imports $546.50 billion
Ranked 6th. 8934 times more than Wallis and Futuna
$61.17 million
Ranked 55th.

GDP > CIA Factbook > Per capita $27,961.52 per capita
Ranked 16th. 8 times more than Wallis and Futuna
$3,660.23 per capita
Ranked 106th.
GDP > Per $ GDP $35,046.59 per $1 of GDP
Ranked 21st. 9 times more than Wallis and Futuna
$3,778.34 per $1 of GDP
Ranked 13th.
Trade > Exports $405.60 billion
Ranked 10th. 8547945 times more than Wallis and Futuna
$47,450.00
Ranked 61st.

Imports > Commodities manufactured goods, machinery, fuels; foodstuffs chemicals, machinery, consumer goods
Labor force per thousand people 0.000505
Ranked 108th.
0.193
Ranked 83th. 383 times more than United Kingdom

Budget > Expenditures > Per capita $20,386.26 per capita
Ranked 13th. 10333 times more than Wallis and Futuna
$1.97 per capita
Ranked 23th.
Labor force > By occupation > Industry 18.2%
Ranked 100th. 5 times more than Wallis and Futuna
4%
Ranked 161st.

Trade balance with US $-1,454,200,000.00
Ranked 202nd.
$300,000.00
Ranked 93th.
External debt > Date of information 30 June 2006 2004

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); 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.; Wikipedia: List of countries by external debt

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