GFmag Online Readers Survey 2012
The United Kingdom


The United Kingdom Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in The United Kingdom; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankBank of England
International ReservesUS$ 30.180 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 2.472 trillion (2010 estimate)
GDP (Purchasing Power Parity)2.233 trillion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
3.9%2.5%2.1%2.8%3%2.2%2.8%2.7%
2008200920102011*
-0.1%-4.9%1.3%1.7%

*Estimate

GDP per capita - current pricesUS$ 39,459 (2007 estimate)
GDP per capita - PPP$35,646 International Dollars (2007 estimate)
GDP (PPP) - share of world total
19801990200020102015**
4.29%4.11%3.6%2.94%2.66%

**Forecast

GDP - composition by sector
  • agriculture: 0.7% 
  • industry: 21.6% 
  • services: 77.7% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)1.77% (2008)

(Data released on November 2010)

Inflation
2008200920102011*
3.6%(2008)2.1%3.3%4.2%

*Estimate

Unemployment rate
2008200920102011*
5.6%7.5%7.8%(2009)7.8%

*Estimate

Household saving rates3.5% (Gross saving; 2011 forecast)

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
43.9%52.1%68.3%77.2%83%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-2.7%-4.9%-10.3%-10.2%-8.1%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AAA/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$3.859 trillionUS$1.852 trillionUS$2.796 trillion
Largest companies in The United KingdomHSBC Holdings (Major Banks), Vodafone (Telecommunications services), Barclays (Major Banks), Rio Tinto (Diversified Metals & Mining), Tesco (Food Retail), Standard Chartered Group (Major Banks), Prudential (Life & Health Insurance), AstraZeneca (Pharmaceuticals), Anglo American (Diversified Metals & Mining), GlaxoSmithKline (Pharmaceuticals), Aviva (Life & Health Insurance), British Amer Tobacco (Tobacco), BG Group (Oil & Gas Operations), National Grid (Natural Gas Utilities)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -60.1 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-2.4% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

28.8% (2008)

(Data released on December 2010)

Shares in world total merchandising export2.66%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export6.14%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$405.6 billion f.o.b. (2010 estimate)
Export commoditiesmanufactured goods, fuels, chemicals; food, beverages, tobacco
Total importsUS$645.7 billion f.o.b. (2008 estimate)
Import commoditiesmanufactured goods, machinery, fuels; foodstuffs
Exports - major partnersUS 14.2%, Germany 11.1%, France 8.1%, Ireland 8%, Netherlands 6.8%, Belgium 5.3%, Spain 4.5%, Italy 4.1% (2007)
Imports - major partnersGermany 14.2%, US 8.6%, China 7.3%, Netherlands 7.3%, France 6.9%, Belgium 4.7%, Norway 4.7%, Italy 4.2% (2007)
FDI inflows
200820092010
US$91,489 millionUS$71,140 million(2009)US$45,908 million(2009)
FDI outflows
200820092010
US$161,056 millionUS$44,381 millionUS$11,020 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$54,653 millionUS$-3,546 million(2009)US$-4,068 million(2009)US$50,724 million
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Imperial Tobacco Overseas Holdings Ltd, Altadis SA, Spain, $17.9 billion
Serafina Holdings Ltd, Intelsat Ltd, Bermuda, $16.0 billion
Lake Acquisitions Ltd, British Energy Group PLC, United Kingdom, $6.1 billion
Investor Group, Steen & Strom ASA, Norway, $4.3 billion
British American Tobacco PLC, House of Prince A/S, Denmark, $4.1 billion
Reed Elsevier Group PLC, ChoicePoint Inc, United States, $3.8 billion
Eni UK Holding PLC, Burren Energy PLC, United Kingdom, $3.7 billion
Anglo American PLC, IronX Mineracao SA, Brazil, $3.5 billion
BG Group PLC, Queensland Gas Co Ltd, Australia, $3.3 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Orange PLC, T-Mobile (UK) Ltd, United Kingdom, $8.5 billion
Friends Provident Holdings (UK) Ltd (FPH), AXA SA-Life Assurance Business,UK, United Kingdom, $4.1 billion
(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 4 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 17 out of 183 countries(2009)

Registering property: 22 out of 183 countries

Paying Taxes: 16 out of 183 countries

Getting credit: 2 out of 183 countries

Protecting investors: 10 out of 183 countries

Trading across border: 15 out of 183 countries

Enforcing Contracts: 23 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		10

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 16 Score: 74.5 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC 0
Total area 242,900 km2 (2006)
CapitalLondon (2009)
CurrencyBritish pounds (GBP) (2009)
Government typeconstitutional monarchy and Commonwealth realm (2009)
LanguagesEnglish, Welsh (about 26% of the population of Wales), Scottish form of Gaelic (about 60,000 in Scotland)
ReligionsChristian (Anglican, Roman Catholic, Presbyterian, Methodist) 71.6%, Muslim 2.7%, Hindu 1%, other 1.6%, unspecified or none 23.1% (2001 census)
Total population
1980199020002010*2015**
56.33 million57.24 million58.89 million62.22 million64.33 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
78.4%87.9%89.4%90%
Population median age39.0 years (2006)
Population growth rate0.7% (2009)
Life expectancy79 years (2007)
Adult literacyN/A
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

36 (1999)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

183.96% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population85% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

London: 18th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

8.5391 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2012:
  • Best Bank for Liquidity Management RBS (Western Europe, 2012)
  • Best Treasury Management Systems & Services Providers / Treasury Management Software IT2 Treasury Solutions (Western Europe, 2012)
  • Best Treasury Management Systems & Services Providers / Best Cash Forecasting Solution IT2 Treasury Smart Cash Modeller (Western Europe, 2012)
2011:
  • Best Bank for Liquidity Management RBS (Western Europe, 2011)
2010:
  • Best Bank for Liquidity Management RBS (Western Europe, 2010)
  • Best CLS-Linked Bank Offering RBS (Western Europe, 2010)
2009:
  • Best Bank for Liquidity Management RBS (Western Europe, 2009)
  • Best Provider of Money Market Funds Barclays Global Investors (Western Europe, 2009)
  • Best CLS-Linked Bank Offering RBS (Western Europe, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:
  • COUNTRY WINNERS Royal Bank of Scotland (RBS) (National, 2012)
2011:
  • COUNTRY WINNERS Royal Bank of Scotland (RBS) (National, 2011)
2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS HSBC (National, 2009)

WORLD'S BEST DEVELOPED MARKET BANKS

2012:
  • HSBC (National, 2012)
2011:
  • HSBC (National, 2011)
2010:
  • Santander (National, 2010)
2009:
  • HSBC (Europe, 2009)

WORLD'S BEST SUPPLY CHAIN FINANCE PROVIDERS

2011:
  • GLOBAL WINNERS / Best Payables Supplier Financing Solution Standard Chartered (Global, 2011)
  • GLOBAL WINNERS / Best Web-based Supply Chain Financing Solution RBS MaxTrad (Global, 2011)
  • REGIONAL WINNERS Royal Bank of Scotland (Western Europe, 2011)
2010:
  • REGIONAL WINNERS Standard Chartered (Africa, 2010)
  • REGIONAL WINNERS Standard Chartered (Asia, 2010)
  • GLOBAL WINNERS / Best Payables Supplier Financing Solution Standard Chartered (Global, 2010)
  • GLOBAL WINNERS / Best Pre-Shipment Financing Solution Standard Chartered (Global, 2010)
  • GLOBAL WINNERS / Best Customer Implementation of Supply Chain Financing Solution Royal Bank of Scotland and SAAB AB (Global, 2010)
  • REGIONAL WINNERS HSBC (Middle East, 2010)
  • REGIONAL WINNERS Royal Bank of Scotland (Western Europe, 2010)
2009:
  • GLOBAL WINNERS / Best Global Supply Chain Finance Provider - Bank HSBC (Global, 2009)
  • GLOBAL WINNERS / Best Payables Supplier Financing Solution HSBC (Global, 2009)
  • GLOBAL WINNERS / Best Pre-Shipment Financing Solution Standard Chartered (Global, 2009)
  • REGIONAL WINNERS RBS (Western Europe, 2009)

WORLD'S BEST BANKS

2011:
  • Consumer Bank HSBC (Global, 2011)
  • Emerging Markets Standard Chartered (Global, 2011)
2010:
  • Consumer Bank HSBC (Global, 2010)
  • Emerging Markets Standard Chartered (Global, 2010)

WORLD'S BEST DERIVATIVES PROVIDERS

2009:
  • Best Interest Rate Derivatives Provider RBS (Europe, 2009)

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Lloyds TSB International (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks HSBC (National, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Online Deposit, Credit and Investment Product Offerings Lloyds TSB International (Europe, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Information Security Initiatives Lloyds TSB International (Europe, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Trade Finance Services HSBC (Europe, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Information Security Initiatives HSBC (Europe, 2011)
  • GLOBAL WINNERS / Best Consumer Internet Bank Standard Chartered (Global, 2011)
  • GLOBAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Information Security Initiatives HSBC (Global, 2011)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Online Deposit, Credit and Investment Product Offerings HSBC (Global, 2011)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design Standard Chartered (Global, 2011)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Information Security Initiatives HSBC (Global, 2011)
2010:
  • GLOBAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Investment Management Services HSBC (Global, 2010)
  • GLOBAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Trade Finance Services Standard Chartered (Global, 2010)
  • GLOBAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Integrated Corporate Bank Site Standard Chartered (Global, 2010)
  • GLOBAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Information Security Initiatives HSBC (Global, 2010)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Investment Management Services Standard Chartered (Global, 2010)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design Standard Chartered (Global, 2010)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site Standard Chartered (Global, 2010)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Information Security Initiatives HSBC (Global, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Investment Management Services Lloyds TSB International (Europe, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Online Consumer Credit Site HSBC (Europe, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design HSBC (Europe, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site HSBC (Europe, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Information Security Initiatives Lloyds TSB International (Europe, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Web Site Design HSBC (Europe, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Integrated Corporate Bank Site HSBC (Europe, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Information Security Initiatives HSBC (Europe, 2010)
  • REGIONAL WINNERS / Best Consumer Internet Banks HSBC (Europe, 2010)
  • GLOBAL WINNER / Best Consumer Internet Bank HSBC (Global, 2010)
  • COUNTRY WINNERS / Best Consumer Internet Banks Lloyds TSB International (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Investment Management Services HSBC (Europe, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Online Consumer Credit Site HSBC (Europe, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Investment Management Services HSBC (Europe, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Online Cash Management Site HSBC (Europe, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Web Site Design HSBC (Europe, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Integrated Corporate Bank Site HSBC (Europe, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Information Security Initiatives HSBC (Europe, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks HSBC (National, 2009)

WORLD'S BEST ISLAMIC FINANCE INSTITUTIONS

2012:
  • OVERALL WINNERS / Best Islamic Real Estate Finance Provider Gatehouse Bank (Global, 2012)
  • REGIONAL WINNERS Bank of London and the Middle East (Europe, 2012)
  • COUNTRY WINNERS Bank of London and the Middle East (National, 2012)
2011:
  • REGIONAL WINNERS Bank of London and the Middle East (Europe, 2011)
  • COUNTRY WINNERS HSBC Amanah (National, 2011)
2010:
  • REGIONAL WINNERS European Islamic Investment Bank (Europe, 2010)
  • OVERALL WINNERS / Best Islamic Investment Bank Standard Chartered (Global, 2010)
  • OVERALL WINNERS / Best Islamic Commodities Provider DDCAP (Global, 2010)
  • COUNTRY WINNERS Bank of London and the Middle East (National, 2010)
2009:
  • REGIONAL WINNERS European Islamic Investment Bank (Europe, 2009)
  • Best Asset Management Company HSBC Amanah (Global, 2009)
  • COUNTRY WINNERS Islamic Bank of Britain (National, 2009)

WORLD'S SAFEST BANKS

2012:
  • REGIONAL WINNERS HSBC (Western Europe, 2012)
  • OVERALL SAFEST HSBC Holdings (Global, 2012)
  • OVERALL SAFEST Barclays Group (Global, 2012)
2011:
  • OVERALL SAFEST HSBC Holdings (Global, 2011)
  • OVERALL SAFEST Nationwide Building Society (Global, 2011)
  • OVERALL SAFEST Barclays Group (Global, 2011)
2010:
  • OVERALL SAFEST HSBC Holdings (Global, 2010)
  • OVERALL SAFEST Barclays Bank (Global, 2010)
  • OVERALL SAFEST Nationwide Building Society (Global, 2010)
2009:
  • OVERALL SAFEST Nationwide Building Society (Global, 2009)
  • OVERALL SAFEST HSBC Holdings plc (Global, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS HSBC (National, 2011)
2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS HSBC (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2012:
  • DEALS OF THE YEAR / Lead Managers Barclays Capital (Global, 2012)
  • Best Debt Bank Barclays Capital (Western Europe, 2012)
  • COUNTRY WINNERS Barclays Capital (National, 2012)
  • LEGAL ADVISERS Linklaters (Western Europe, 2012)
  • LEGAL ADVISERS Linklaters (Asia, 2012)
  • LEGAL ADVISERS Linklaters (Middle East and Africa, 2012)
  • DEALS OF THE YEAR / Best Debt Deal Nationwide Bullding Society ($19.97 billion) (Global, 2012)
  • DEALS OF THE YEAR / Lead Managers Nationwide Building Society (Global, 2012)
  • DEALS OF THE YEAR / Advising Acquirer Barclays Capital (Global, 2012)
2011:
  • GLOBAL / Best Debt Bank Barclays Capital (Global, 2011)
  • DEALS OF THE YEAR / Advising Acquirer Standard Chartered Bank (Global, 2011)
  • DEALS OF THE YEAR / Advising Acquirer Barclays Capital (Global, 2011)
  • COUNTRY WINNERS J.P. Morgan (National, 2011)
  • LEGAL ADVISERS Linklaters (Asia, 2011)
  • LEGAL ADVISERS Linklaters (Middle East and Africa, 2011)
2010:
  • LEGAL ADVISERS Clifford Chance (Central and Eastern Europe, 2010)
  • SECTORS / Health Care Barclays Capital (Global, 2010)
  • SECTORS / Technology Barclays Capital (Global, 2010)
  • COUNTRY WINNERS Barclays Capital (National, 2010)
2009:
  • LEGAL ADVISERS Clifford Chance (Central and Eastern Europe, 2009)
  • SECTORS / Power Rothschild (Global, 2009)
  • LEGAL ADVISERS Linklaters (Global, 2009)
  • LEGAL ADVISERS Clifford Chance (Middle East and Africa, 2009)
  • COUNTRY WINNERS Morgan Stanley (National, 2009)
  • LEGAL ADVISERS Linklaters (Western Europe, 2009)

CENTRAL BANKER REPORT CARD

2011:
2010:
2009:

WORLD'S BIGGEST BANKS

2011:
  • OVERALL BIGGEST HSBC Holdings (Global, 2011)
  • OVERALL BIGGEST Barclays (Global, 2011)
  • OVERALL BIGGEST The Royal Bank of Scotland Group (Global, 2011)
  • OVERALL BIGGEST Lloyds Banking Group (Global, 2011)
  • OVERALL BIGGEST Standard Chartered (Global, 2011)
2010:
  • OVERALL BIGGEST Royal Bank of Scotland Group (Global, 2010)
  • OVERALL BIGGEST HSBC Holdings (Global, 2010)
  • OVERALL BIGGEST Barclays (Global, 2010)
  • OVERALL BIGGEST Lloyds Banking Group (Global, 2010)
  • OVERALL BIGGEST HBOS (Global, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:
  • COUNTRY WINNERS Barclays Capital (National, 2012)
2011:
  • COUNTRY WINNERS Barclays Capital (National, 2011)
2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS RBS (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE