Thursday, April 11, 2013

Country Profile Part Two: Scotland Economics

A Broad Overview of Scotland's Economy
GDP: 216 billion USD
GDP per capita: 43,492 USD
Life Expectancy
75.8 years for males
80.4 years for females
Poverty Rate: 15% (2010/11)
Literacy Rate: 99%
Unemployment Rate: 7.4%
Inflation: 3.5%

Natural Resources
The climate of Scotland is temperate, it is fairly changeable but is rarely extreme. Because of the different topography of Scotland rainfall is highly varied across the country reaching 180in in the western Highlands but only 34in in eastern Scotland. Scotland has significant coal and oil reserves and large deposits of zinc. A lot of the soil is rocky and infertile, but there is some arable land in the central lowlands and flat eastern coastal areas. Another important Scottish resource is livestock, mainly sheep. The rivers of northern Scotland provide significant quantities of hydroelectric power, with most of the U.K.'s hydroelectric power located in Scotland.

Labor
The labor force in Scotland is almost 3 million people. Scotland has universal public education available to all residents. The Scottish educational system emphasizes breadth in a range of subjects in stead of more in depth studies in one area, like in the rest of the U.K. After completing primary and secondary school, students can decide to continue studying at a university. Scotland has 18 institutes of higher education including 15 universities.

Capital
Scotland has a very large fishing industry. Other main industries in Scotland are electronics, textiles, whisky and tourism. Because of the natural reserves of coal and oil, these industries are also fairly successful, but hydroelectric power is on the increase. The Scottish government invests a decent amount of money into the infrastructure of the country. The roadways and railway system are very extensive. Below is a picture of major railways throughout Scotland.


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