US diplomatic representation: chief of mission: Ambassador Adm. William W. CROWE embassy: 24/31 Grosvenor Square, London, W. 1A1AE mailing address: PSC 801, Box 40, FPO AE 09498-4040 telephone: [44] (71) 499-9000 FAX: [44] (71) 409-1637 consulate(s) general: Belfast, Edinburgh
Flag: blue with the red cross of Saint George (patron saint of England) edged in white superimposed on the diagonal red cross of Saint Patrick (patron saint of Ireland) which is superimposed on the diagonal white cross of Saint Andrew (patron saint of Scotland); known as the Union Flag or Union Jack; the design and colors (especially the Blue Ensign) have been the basis for a number of other flags including dependencies, Commonwealth countries, and others
@United Kingdom:Economy
Overview: The UK is one of the world's great trading powers and financial centers, and its economy ranks among the four largest in Western Europe. The economy is essentially capitalistic; over the past 13 years the ruling Tories have 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 only 1% of the labor force. The UK has large coal, natural gas, and oil reserves, and primary energy production accounts for 12% of GDP, one of the highest shares of any industrial nation. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance, now employing only 25% of the work force and generating only 21% of GDP. The economy registered 4.2% GDP growth in 1994, its fastest annual rate for six years. Exports and manufacturing output are the primary engines of growth. Unemployment is gradually falling. Inflation is at the lowest level in 27 years, but British monetary authorities raised interest rates to 6.25% in 1994 in a preemptive strike on emerging inflationary pressures such as higher taxes and rising manufacturing costs. The combination of a buoyant economy and fiscal tightening is projected to trim the FY94/95 budget shortfall to about $50 billion - down from about $75 billion in FY93/94. The major economic policy question for Britain in the 1990s is the terms on which it participates in the financial and economic integration of Europe.
National product: GDP - purchasing power parity - $1.0452 trillion (1994 est.)
National product real growth rate: 4.2% (1994 est.)
National product per capita: $17,980 (1994 est.)
Inflation rate (consumer prices): 2.4% (1994)
Unemployment rate: 9.3% (1994)
Budget:
revenues: $325.5 billion
expenditures: $400.9 billion, including capital expenditures of $33
billion (FY93/94 est.)