The CIA's World Factbook describes the UK as 'still one of Europe's strongest economies', and places it eighth for its share of the world's £32.5 trillion total GDP. But let's not forget, not so long ago the UK led the charge into industrialisation. It just goes to show that when you're at the top there's only one way to go. What's more revealing is that in 1966, 44% of our GDP derived from industry. In 2005, however, the proportion had fallen to a mere 25%, with 74% coming from services.
Some 10% of total GDP is now accounted for by primary energy production; if the North Sea reserves prove the nay-sayers right and run dry, it may soon be even tougher to tell what, as a nation, the UK actually does.
£467bn - 1966 UK GDP
£1.2 trillion - 2005 UK GDP*
*adjusted for inflation.