England has a land area of 13,395 square km and a population of 51,446,000 (2008 consensus). The terrain comprises of plains and low hills. England is rich in different naturally occurring resources, such as coal, petroleum, natural gas, tin, limestone, iron ore, salt, clay, chalk, gypsum, lead and silica. This is one major reason that England has been able to adopt the industrial revolution easily and prosper.
England’s economy is one of the biggest economies of the world. Being a mixed economy, there is active contribution from both the private as well as the government sector. However, amidst a largely capitalistic outlook, England retains the social welfare focus and leads the world in aerospace, arms and the manufacturing segment of the software industry.
Although industrialization is rampant in the nation, there has been a sudden shift towards the services sector. Tourism has therefore become an important segment and attracts over a million people annually to England.
This is how the economy has performed since 2007 (figures in US dollar trillion):