Economy of Birmingham

Economy Of Birmingham

The city of Birmingham, in England, is an important manufacturing and engineering centre, employing over 100,000 people in the industry and contributing billions to the national economy. During 2005, the West Midlands region as a whole created UK exports worth £15.2 billion, around 7.1% of the national total. Output was forecast to grow from 2007 to 2012, but the city's economy flat-lined in from 2007 to 2009 following the economic crisis which affected the economies of countries around the world.

Although Birmingham has seen strong economic growth overall in recent years, with per capita GDP rising from 2% above the UK average in 1995 to 7% above in 2003, the benefits have not been felt evenly throughout the city. Many of the higher skilled jobs generated have gone to commuters from the surrounding area, and the two parliamentary constituencies with the highest unemployment rates in the UK - Ladywood and Sparkbrook and Small Heath - are both in inner-city Birmingham. Growth has also placed significant strain on the city's transport infrastructure, with many major roads and the central New Street railway station operating considerably over capacity during peak periods.

In 2010, Birmingham was ranked as the 52nd-most livable city in the world and the second most livable in the UK, according to the Mercer Index of worldwide standards of living. Birmingham was also one of the founding cities for the Eurocities group and is also sitting as chair. Birmingham has the second-largest city economy in the UK, and was ranked 72nd in the world in 2008.