Got a tricky question? Receive an answer from students like you! Try us!

Comparison of UK's economic performance with that of Germany for the years 2006-2010 - Essay Example

Only on StudentShare
Masters
Essay
Finance & Accounting
Pages 6 (1506 words)

Summary

This paper talks about economic performance of Germany and The UK over the years 2006-2010. UK’s economy is the sixth largest world economy in terms of nominal GDP. The German economy is the largest in Europe. In the world, it is the fourth largest in terms of nominal GDP. …

Extract of sample
Comparison of UK's economic performance with that of Germany for the years 2006-2010

The essay is the best example of comparison of German and UK economic performances.
These two countries have diverse and strong national economies.
UK’s economy is the sixth largest world economy in terms of nominal GDP, and seventh in terms of Purchasing Power Parity. In Europe, it is the third largest in terms of PPT after Germany. The economy of Germany is the largest economy in Europe. In the world, it is the fourth largest in terms of nominal GDP.
In 2007, the annual growth rate for UK was at an average of 2.68%, according to the IMF (2009, pg 321). Growth in its financial sector contributed a larger economic part, but this declined in 2008 when it suddenly entered into a recession due to the global financial crisis. This began with the Northern Rock’s collapsing and being taken over into public ownership in February the same year. On the other hand, other banks were also nationalized. Such banks included Royal Bank of Scotland Group,
According to the Office of national statistics, UK officially entered into economic recession in 2008, the first time in its history. As a result, the rate of unemployment among the youths rose by 5.4%
About a third of the German national output is realized from exports, thus making its balance of payment favorable, compared to that of UK that is normally characterized by deficits. The service sector accounts for about 70%, industry 29.1%, and 0.9% in the agricultural sector of its total GDP In December 2010, German’s unemployment rate was found to be 6.1%, lower than that of UK’s 7.8%
In EU, the car industry is oligopolistic, rather than perfectly competitive Germany is the largest motor vehicle producer in EU, and it has become very hard for competitors from other regions to compete with its firms.
the fact that the firms have captured reasonable market shares in their respective location has made it hard for other competitors to penetrate and survive in their markets
...
Download paper
Not exactly what you need?

Related Essays

Apple Case Study
The paper tells that it would appear that Apple segments its business into business units on a geographic, rather than product bases, in addition to the four geographic business units, the company treats the retail business as a separate business unit. Each business unit reports sales and profitability from all product and operational categories within the region, with the exclusion of retail operations which fall under a separate SBU. In analysing Apple’s strategy, subsequent sections of the report will refer to the European SBU where appropriate. The financial performance of Apple’s…
14 pages (3514 words)
Retail industry in last ten years
The paper also analyses the role played by the mergers and acquisitions which had led to successful operation of the few big organization in the retail industry. Changes in the retail market: The general overview regarding the retail market has changed considerably over the last ten years. Originally the retail market signified a clothing market which primarily involved a made to order market, but in recent time, the dimension changed and it emerged as a ready to wear market. The standard practice of the retail market involved customers flipping through the product catalogue, selecting the…
8 pages (2008 words)
How has IT changed Accounting in the past 5 years?
On top of shortening the lead-time, it has also improved overall accuracy and efficiency of the delivered information. Its biggest impact on accounting in the past five years has been the ability of organizations to develop, as well as use, computerized systems in order to record and track financial transactions. Computer systems have translated all the hand-written statements into systems that can present financial reports from individual transactions. Popular accounting systems are now also available in tailor made form for various companies and industries. This permits organizations to…
Topic-Gold stocks and index performance comparison
When a country’s currency devalues significantly, gold held by central banks and Federal Reserve can be used in trade as a means of exchange to facilitate trade. For governments to hedge against instability in currency, gold is deposited in reserve by governments, private individual and companies to be exchange when need arises. A country’s development is pegged on the amount of gold in its reserves and is used to determine the value of a country’s currency. With a good reserve of gold, economic stability is realized alongside stable commodity prices in a country (World Gold Council).…
3 pages (753 words)
Impact of Personal Finance on UK Housing Market
This report stresses that in UK, the procurement of the housing facility is largely facilitated by the financial risk and the structural pattern of the housing market. Apart from the traditional banks, UK housing market is financed largely by the large amount of investors from other countries. The requirements for the strong growth in the UK housing market were largely dependent on the pricing of the residential and non-residential property. The UK housing market then consisted of submarkets and the quantitative analysis was the most common method to determine the market issues and…
8 pages (2008 words)
Commentaries on a company's performance over last 2 years
This means that the company’s inventory has been higher than the sales in the year 2012-13. This is not favorable position since inventory piling up indicates that money is tied up in inventory. Then, receivable days have been calculated, and this has reduced in 2012-13 from the previous year. This means that the company is in good position in respect to its debtors since lower receivable days indicates that the company takes less time to collect the receivable amounts. By faster receive of due, collection related problems get reduced, and also the company has improved its profitability and…
3 pages (753 words)
Central bank independence and economic performance
This paper offers a comprehensive analysis of the role of central bank in terms of economic performance of the nation. Influence of the political independence of central bank operations in context of achieving its objectives is under review. …
6 pages (1506 words)