- Resource poor, but highly developed
- GDP - Around $40,000
Owes prosperity to educated & skilled workforce
Imports most of coal and 3/4 of oil
69% of national output is tertiary, 30% is manufactoring
Industries like shipbuilding & steelworks thrived in 1960's but changed to knowledge industries like telecoms and electronics
Most industry moved to Europe, Asia, and North America
Explains why raw material imports fell by 12% in 1993 - 2003
However, oil imports continue to rise
As its economy and high standard of living is still fuelled by energy
35% increase in energe use between 1990-2005 due to general rise in living standards and increase in economy (GDP increase by 25%)
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