The UK is the fourth richest nation in the world with the average family better off than those in France and Japan, according to official figures yesterday.
Gross domestic product per capita – the total size of the economy divided by every man, woman and child in Britain – was £21,692 in 2012. The measurement was only higher in the United States, Canada and Germany.
This means the UK was ahead of Japan, France and Italy as well as the emerging ‘BRIC’ economies of Brazil, Russia, India and China. In 1997, the UK was only the sixth wealthiest nation in the world, behind the US, Canada, Japan, Germany and France.
The report by the Office for National Statistics added that the UK is now one of the best performing economies in the Group of Seven leading industrialised nations.
This follows the slowest recovery since the Second World War. ‘Throughout 2013 and in the first quarter of 2014, the UK has moved from having one of the slowest growth rates in the G7 to one of the fastest,’ it said, Daily Mail informs.
