Q. The graph below shows the contribution of three sectors - agriculture, manufacturing, and business and financial services - to the U.K. economy in the twentieth century.
which sectors are influencing UK economy the most?
The given bar chart illustrates three different sectors which contributed to the UK economy over the period of 1900 to 2000.
Generally, agricultural and manufacturing sectors influenced in U.K. economic development during the first half of the century, but in the late twentieth century, business and financial sector was the major contributor of the economy.
To begin with, agricultural industry was the major determinant of the economy from 1900 to 1950 where its percentage were around 50. In addition, the percentage of manufacturing sector was almost comparable to the former one in 1900 with 47. However, in 1950, the market share of manufacturing industry was almost four fifth of that of agricultural market with just under 40 percent. In early part of second half of the century, the trend was apparently reversed where economic distribution of agricultural field was significantly declined and had nearly one third of the market share in comparison with manufacturing sector which took the highest position with almost 35 percent. Regarding business and financial sector, its market contribution was the least in the first half of the century with around 10 percent, henceforth, it gained dramatic rise and reached the peak in 2000 with 35 percent of the UK economy.