This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of the United Kingdom were reviewed by the Committee on 21 September 2017. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 3 October 2017.

The Secretariat’s draft report was prepared for the Committee by Rafał Kierzenkowski, Mark Baker, Peter Gal and Sanne Zwart, under the supervision of Pierre Beynet. The Survey also benefited from contributions from Jagoda Egeland. Research assistance was provided by Gabor Fulop. Elisabetta Pilati formatted and produced the layout of the document.

The previous Survey of the United Kingdom was issued in February 2015.

  
BASIC STATISTICS OF UNITED KINGDOM, 2016
(Numbers in parentheses refer to the OECD average)1

LAND, PEOPLE AND ELECTORAL CYCLE

Population (million)

65.0

Population density per km2

269.6

(37.2)

 Under 15 (%)

17.6

(17.9)

Life expectancy (years, 2015)

81.0

(80.5)

 Over 65 (%)

18.2

(16.6)

 Men

79.2

(77.9)

 Foreign-born (%, 2015)

13.1

 Women

82.8

(83.1)

Latest 5-year average growth (%)

0.8

(0.6)

Latest general election

June 2017

ECONOMY

Gross domestic product (GDP)

Value added shares (%)

 In current prices (billion USD)

2 618.9

 Primary sector

0.6

(2.5)

 In current prices (billion GBP)

1 961.1

 Industry including construction

19.2

(26.6)

 Latest 5-year average real growth (%)

2.1

(1.8)

 Services

80.2

(70.9)

 Per capita (000 USD PPP)

42.7

(42.0)

GENERAL GOVERNMENT

Per cent of GDP

Expenditure

41.9

(41.6)

Gross financial debt

121.9

(108.5)

Revenue

38.7

(38.7)

Net financial debt

91.8

(69.9)

EXTERNAL ACCOUNTS

Exchange rate (GBP per USD)

0.738

Main exports (% of total merchandise exports)

PPP exchange rate (USA = 1)

0.694

 Machinery and transport equipment

39.2

In per cent of GDP

 Chemicals and related products, n.e.s.

16.6

 Exports of goods and services

27.9

(53.9)

 Miscellaneous manufactured articles

13.9

 Imports of goods and services

30.1

(49.5)

Main imports (% of total merchandise imports)

 Current account balance

-5.6

(0.2)

 Machinery and transport equipment

35.9

 Net international investment position (2014)

-22.5

 Miscellaneous manufactured articles

15.0

 Chemicals and related products, n.e.s.

11.2

LABOUR MARKET, SKILLS AND INNOVATION

Employment rate for 15-64 year-olds (%)

73.5

(66.9)

Unemployment rate, Labour Force Survey (age 15 and over) (%)

4.8

(6.3)

 Men

78.3

(74.7)

 Youth (age 15-24, %)

13.0

(13.0)

 Women

68.8

(59.3)

 Long-term unemployed (1 year and over, %)

1.3

(2.0)

Participation rate for 15-64 year-olds (%)

78.2

(71.7)

Tertiary educational attainment 25-64 year-olds (%)

46.0

(35.7)

Average hours worked per year

1 676

(1 763)

Gross domestic expenditure on R&D (% of GDP, 2015)

1.7

(2.4)

ENVIRONMENT

Total primary energy supply per capita (toe, 2015)

2.8

(4.1)

CO2 emissions from fuel combustion per capita (tonnes, 2014)

6.4

(9.4)

 Renewables (%, 2015)

7.7

(9.6)

Exposure to air pollution (more than 10 μg/m3 of PM2.5, % of population, 2015)

65.6

(75.2)

Municipal waste per capita (tonnes, 2015)

0.5

(0.5)

SOCIETY

Income inequality (Gini coefficient, 2015)

0.360

(0.311)

Education outcomes (PISA score, 2015)

Relative poverty rate (%, 2015)

10.9

(11.3)

 Reading

498

(493)

Median disposable household income (000 USD PPP, 2015)

22.1

(22.9)

 Mathematics

492

(490)

Public and private spending (% of GDP)

 Science

509

(493)

 Health care

9.7

(9.0)

Share of women in parliament (%)

29.6

(28.7)

 Pensions (2013)

7.3

(9.1)

Net official development assistance (% of GNI)

0.70

(0.39)

 Education (primary, secondary, post sec. non tertiary, 2014)

4.8

(3.7)

1. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.