Britain is the only major industrial economy to see an increasing share of trade in global services — from 7 per cent a decade ago to 8.25 per cent today. In knowledge intensive services, the UK is second only to the United States and high-tech manufacturing has grown by 30 per cent in the last ten years. Driven by improved productivity, the UK's GDP per head - the average income for every man, woman and child - has gone from the lowest amongst the group of seven leading industrial economies in the early 1990s to being second only to the United States last year.

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