<P> The service sector dominates the UK economy , contributing around 80 % of GDP ; the financial services industry is particularly important , and London is the world 's largest financial centre . Britain 's aerospace industry is the second - largest national aerospace industry . Its pharmaceutical industry , the tenth - largest in the world , plays an important role in the economy . Of the world 's 500 largest companies , 26 are headquartered in the UK . The economy is boosted by North Sea oil and gas production ; its reserves were estimated at 2.8 billion barrels in 2016 , although it has been a net importer of oil since 2005 . There are significant regional variations in prosperity , with South East England and North East Scotland being the richest areas per capita . The size of London 's economy makes it one of the largest cities by GDP in Europe . </P>
<P> The service sector dominates the UK economy , contributing around 80 % of GDP ; the financial services industry is particularly important , and London is the world 's largest financial centre . Britain 's aerospace industry is the second - largest national aerospace industry . Its pharmaceutical industry , the tenth - largest in the world , plays an important role in the economy . Of the world 's 500 largest companies , 26 are headquartered in the UK . The economy is boosted by North Sea oil and gas production ; its reserves were estimated at 2.8 billion barrels in 2016 , although it has been a net importer of oil since 2005 . There are significant regional variations in prosperity , with South East England and North East Scotland being the richest areas per capita . The size of London 's economy makes it one of the largest cities by GDP in Europe . </P>
what is the uk 's biggest industry today
what is the uk 's biggest industry today
financial services
financial services