Data Bases • Custom Term Papers • Free Term Papers • Free Research Papers • Free Essays • Free Book Reports • Plagiarism? Links • Top 100 Term Paper Sites • Top 25 Essay Sites • Top 50 Essay Sites • Search 97,000 Papers @ DirectEssays.com • Search 101,000 Papers @ ExampleEssays.com • Search 90,000 Papers @ MegaEssays.com Free Essays • Term Paper Sites • Chuck III's Free Essays • Free College Essays • TermPaperSites.com • My Term Papers • Get Free Essays • Essay World • Planet Papers	Search Lots of Essays Back to Subjects - Economics Comparison of Economies UK vs US Comparison of Economies UK vs US Comparison of Economies: United Kingdom vs. United States The United States of America (USA) and the United Kingdom (UK) are similar in many different ways, but their economies are much different. The difference in population contributes to several of the differences between the economies. Vast differences in the percentages of the Gross Domestic Product (GDP) that agriculture, industry and services make up are another way in which the economies differ. Last, the share of trade in each economy is extremely different. First, population plays a large role in every country’s economy. USA’s population is almost 280 million people, whereas, UK’s population is a little less than sixty million people. However, due to the difference in land area of the two countries - UK: 244,820 square kilometers; USA: 9,629,091 square kilometers - the United Kingdom is much more crowded than the United States. Even with these differences the two countries have similar age breakdowns and life expectancies of both males and females. The GDP per capita in the United States is $12,100 more than that of the United Kingdom. Even though population plays an important role in the economy, other things, such as agriculture, industrial development, and the selling of services, are really what defines a nation’s economy and are what really defines the difference between the two economies. Agriculture in America makes up twelve percent of the GDP. In England, however, agriculture only makes up 1.7 percent of the GDP. England makes some of this gap up in industry. It’s industry is twenty-five percent of the GDP, where America’s industry percentage is eighteen percent. However, America once again widens the gap in the selling of services with a seven percent advantage over the UK. All of this means that America is more agriculture and service oriented than the United Kingdom, but the United Kingdom is more industry oriented than America. One last aspect of the economy is trade. The United States exported $663 billion and it imported $912 billion in 1998. This means that the USA has a trade deficit of $249 billion. This may sound bad, but trade is only 16.86 percent of the GDP. This means that the other parts of the GDP make up for the trade deficit. England exported $271 billion and imported 305.9 billion in 1998. So, England has a trade deficit of $34.9 billion. This does not sound near as bad as the $249 billion of the United States’, but trade is 44.47 percent of England’s GDP. So, it is not that much better than the United States trade deficit. In conclusion, many people may believe the capitalist economies of the United States and the United Kingdom are similar, but in actuality they are quite different. Population, agriculture, industry, services, and trade are parts of the economy that differ between the United States and the United Kingdom. By evaluating these differences one is able to find that there is more than one way to have a successful economy. Bibliography: Word Count: 519
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