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MARKETING

UK`s economy
The economy of UK is quite diversified, where services, construction, manufacturing,
and tourism contribute towards the nation`s GDP. The robust economic recovery from the
financial crisis aids effective rule of law. The GDP of the country is estimated at $2.9 trillion
and it is expected to grow with 1.8 percent (Office for national statistics, 2018). There is no
growth in last quarter of 2019, where it increases the construction and service sector, which
are offset by other party shown from the motor industry. Per capita of UK is $44118. The
unemployment rate is nearly 4.3 percent. The inflation rate of UK is 2.7 percent. FDI inflows
are estimated at $15.1 billion. The regulation efficiency of UK economy covers its business
freedom, monetary freedom, and labour freedom (Office for national statistics, 2018).
Currency exchange rate. UK`s service export will include 396579074270 in balance
of payments with the current service import of 256906844. Exports of goods and services
contribute a percentage of GDP nearly to 30.01 percent (PWC, 2019a). Import of goods is
nearly 31.77 percent GDP. Majority of export goods include packaged medicaments, gas
turbines, hard liquor, and crude petroleum. Only nations, which bought more from Ireland,
Malta, Denmark, and Sweden. The government provides open regime for trade. Furthermore,
EU has encouraged the policymakers while addressing the structural deficiencies especially
lack of productive growth (PwC, 2019b). The business environment of UK is liberal for
labour, which makes it most efficient investment and business. Trade agreements of UK will
expand its trade relationships at global level. According to the Guardian, it is seen that EU
allows UK to conduct their trade freely with other 27 nations (2019 Index of Economic
Freedom, 2019).
The country has the largest manufacturing group where value of exports has reached
to £18 billion of motor vehicles. It is expected that long-term projections can be improved by