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Great Britain is one of the world's leading industrial nations. It lacks most of the raw materials needed for industry, however, and must also import about 40% of its food supplies. Thus, its prosperity is heavily dependent on the export of manufactured goods in exchange for raw materials and foodstuffs, and it has long been an extremely active trading nation. Manufacturing and service industries employ more than one third of the total work force.

Major industries include mechanical and electrical engineering, food processing, iron and steel, paper and printing, motor vehicles, chemicals, textiles, and aircraft. Production of oil from North Sea wells began in 1975, and by 1979 the country was self-sufficient in petroleum. Coal is also mined in large quantities.

Almost 30% of the land is arable, and almost half is suitable for meadows and pastures. Chief commodities are dairy products and beef cattle and other livestock, including many sheep, which are raised for meat and wool. The coal, gas, electricity, railroad, shipbuilding, and aerospace industries, which were mainly publicly owned until the late 1970s, have undergone increasing privatisation.