The United Kingdom is one of the larger economies of Europe, although not being part of the EU any more.
As of 2024, the United Kingdom’s population is estimated to be approximately 67.96 million. The population has shown a modest growth rate of around 0.35% from the previous year. It has a diverse set of overseas born populations, with the largest contributing countries being Poland, India, and Pakistan.
The UK has a mixed economy, which is the sixth-largest national economy in the world by nominal GDP. It is characterized by a highly developed and market-oriented sector. The largest city and capital is London, which is a major global city and financial center.
WHAT ARE BUSINESS OPPORTUNITIES IN THE UNITED KINGDOM?
Foreign direct investment (FDI) to the UK slumped during the economic crisis. Fortunately, it has been improving significantly. In 2014, UK ranked as the 11th largest recipient of foreign direct investment. Main sectors that attract FDI are:
- Financial services
- Professional, scientific, technical services
- Mining
- Metal products, machinery
- Computers, electronics, optics
- Food, beverages, tobacco
WHERE THE ACTION REALLY IS IN INTERNATIONAL BUSINESS IN UNITED KINGDOM
Respectively, imports and exports make up 25.8% and 19.2% of the total economic output. This is a country that should be included in your marketing plan. The top five imports and exports are as follow:
| Imports | % of total | Exports | % of total |
| Machinery | 13.2 | Machinery | 14 |
| Oil | 11.3 | Oil | 11.2 |
| Vehicles | 11 | Vehicles | 10.6 |
| Electronic equipment | 8.9 | Gems, precious metals, coins | 10.3 |
| Gems, precious metals, coins | 5.2 | Pharmaceuticals | 6.6 |
THE UNITED KINGDOM ICT MARKET: E-COMMERCE, E-HEALTH, IT SECURITY
According to the European Information Technology Observatory, the UK offers the largest ICT market in Europe. Areas where imports are expected to grow include tablets, cloud-computing, real-time data analysis, and business software.
The UK is a market for new technology and design along with a sophisticated group of consumers who are patrons of new innovations in technology and well established channels for distribution.

