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Chapter 1; [5] provides a summary of the UK National Accounts along with explanations and tables that cover the main national and domestic aggregates, for example gross domestic product [6] at current market prices and chained volume measures; the GDP deflator; gross value added (GVA) at basic prices; gross final expenditure at current prices; GDP per head and; GDP and real household ...
It contributes around 0.5% of the UK's national GDP. [138] Around two-thirds of production by value is devoted to livestock, and one-third to arable crops. [139] The agri-food sector as a whole (agriculture and food manufacturing, wholesale, catering, and retail) was worth £120 billion and accounts for 4 million jobs in the UK. [140]
Taking into account the last available data for Armenia, trade openness is approximately 78% for 2021. [5] For trade-to-GDP ratio, the provided data for Armenia is from 1990 to 2021. The average value for Armenia during that period was 77.92% with a minimum of 54.54% in 2008 and a maximum of 112.43% in 1994.
The UK has rarely been self-sufficient in terms of food supply. In 2023, the country was 54–60% self-sufficient in food. [4] [5] In 2022, the country produced enough sheep and milk to be self-sufficient, and almost enough poultry, eggs and cereals, but other foods, such as rice, tomatoes and exotic fruits, had to be imported. [6]
The pharmaceutical industry employs around 67,000 people in the UK and in 2007 contributed £8.4 billion to the UK's GDP and invested a total of £3.9 billion in research and development. [ 113 ] [ 114 ] In 2007 exports of pharmaceutical products from the UK totalled £14.6 billion, creating a trade surplus in pharmaceutical products of £4.3 ...
The 2020 study finds that economic globalization has decreased security of global supply chains with most countries exhibiting greater exposure to resource risks via international trade – mainly from remote production sources – and that diversifying trading partners is unlikely to help nations and sectors to reduce these or to improve their ...
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In economics, the new international division of labour (NIDL) is an outcome of globalization.The term was coined by theorists seeking to explain the spatial shift of manufacturing industries from advanced capitalist countries to developing countries—an ongoing geographic reorganisation of production, which finds its origins in ideas about a global division of labor. [1]