England's Economy

England has one of the largest economies in the world!  England consists of a private sector and a government sector making it a mixed economy.  The popular industries in England include aerospace, arms and manufacturing software. Although the social welfare is imporatant to the English,  tourism also plays a major part of their economy since over a million tourists come to England annually.  Oil, gas and coal are also major industries of England.

The currency of England is called the pound sterling and they do not use the euro like many other European countries. However, euros are accepted in some stores in England but they are not comnmonly used.  The pound is split up into 100 pence like the dollar is split up into 100 pennies. Penny is actually the short form of pence! The pounds are split up into bills called Pound Notes except for the 1 pound and 2 pounds which are coins, like the pence. One Canadian dollar is equal to 0.64 pounds.

As of 2009, England was ranked 10th in the world for exporting goods to different countries.  England's main exports are fuels, chemicals, food, beverages and tobacco but they are especially well-known for their manufactured goods because they are a very industrilized country.  England's biggest exporting partner is the US followed by Germany and the Netherlands.

England mainly imports manufactured goods, machinery, fuels and food.   Most of their products are imported from Germany, United States and China.

Websites Used:

http://www.woodlands-junior.kent.sch.uk/customs/questions/money.html

http://www.economywatch.com/world_economy/england/

http://www.translatum.gr/converter/currency.htm

http://www.economywatch.com/world_economy/england/export-import.html