With the sixth-largest nominal GDP in the world, valued at $2.83 trillion, the United Kingdom, leading trading power and financial center, is the third-largest economy in Europe after Germany and France. The economy of the United Kingdom is divided into 17 broad categories including Professional, scientific, & technical; Construction; and Business administration, & support services.
A quantitative breakdown of the industrial profile: Professional, Scientific, and Technical constitute the largest sector of the United Kingdoms’ economy with a total number of 467,595 businesses, with only 17.01% businesses in the UK within this industry. Coming in second was construction with 351,250 businesses, third was business administration and support services with a 235,755 total, and fourth was information and communication, standing at 225,745.
At The CEOWORLD magazine, we analyzed the latest available data from the Office for National Statistics (ONS), which is a snapshot of the Inter-Departmental Business Register (IDBR) taken on 13 March 2020 and shows the number of VAT and/or PAYE based businesses by broad industry group, as defined by the Standard Industrial Classification. First, we looked at statistics across more than 2.7 million (2749700) micro, small, and medium-sized businesses that exist within 17 core industries.
Which Are The Biggest Industries In The United Kingdom?
|Rank||Industry||Number of Companies||% of total Companies|
|1||Professional, scientific, and technical||467595||0.1701|
|3||Business administration, and support services||235755||0.0857|
|4||Information and communication||225745||0.0821|
|6||Arts, entertainment, recreation & other services||175720||0.0639|
|7||Accommodation and food services||161695||0.0588|
|9||Agriculture, forestry, And fishing||148845||0.0541|
|10||Transport and Storage (inc postal)||123075||0.0448|
|15||Finance and insurance||62040||0.0225|
|17||Public administration and defence||7665||0.0028|
Languishing at the bottom of the table with a total of 7,665 organizations was public administration and defense. The next lowest number of enterprises came from the Education sector with a total of 45,000. The third lowest sector was Finance and insurance with a total of 62,040 and the fourth was Motor trades with 76,910 businesses in operation.