The UK Economy

What’s the economy look like today, or last march?

  1. BoE on QE £895bn
  2. Commons on Tax £800 bn
  3. Annual Report and Accounts 2020-21 by HM Treasury
  4. What does the government spend money on? by IFS £890bn
  5. GDP from trading economics $2,708.bn = £1,947 bn
  6. The World Bank on Balance of Trade, varies from -£35bn to +£5bn in 2020, last year, but this will include services and agriculture and it’s net, but here’s the exports table/chart.


I make this about 41% of GDP. There are problems with dates and time period sync. and FX conversions. The QE number is ~ 45% of GDP.

  1. Manufacturing as a proportion of GDP, from the world bank, fallen from ~16.5% in 1990, to ~8½% in 2020, here’s Germany and the US, both of which also show big declines. Where’s the world’s R&D? Under UK SIC classification, it would be in manufacturing and maybe public administration (for health and universities).
  2. Here’s the ONS manufacturing stats page.

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