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UK worth more than $13 trillion, says ONS

Staff Writer | August 29, 2018
Britain's Office for National Statistics (ONS) published new figures Wednesday, showing that the net worth of the country stands at 10.2 trillion pounds ($13.15 trillion).
Britain   Land accounts for 51 percent of Britain's net worth
ONS released details of its estimate of the total value of all the land, housing and machinery and financial assets owned by individuals and companies in 2017, saying the figure was $634 billion higher than the previous year.

ONS senior statistician Daniel Groves said: "Today's figures give a new estimate of the total value of the land, housing, machinery and financial assets held by UK individuals and companies. The increase in the net worth of the UK was driven by continued increases in the value of housing and land."

The ONS balance sheet shows that growth in Britain's net worth was estimated at 5.1 percent between 2016 and 2017, which was in line with average growth between 2009 and 2017 of 5.2 percent.

Land accounts for 51 percent of Britain's net worth, higher than any other measured G7 country, added ONS. It puts Britain's figure 12 percentage points above the average of 39 percent, and 9 percentage points above France (42 percent), which is the second-highest, and almost double that of Germany (26 percent).

If the net worth of Britain was shared equally among the population, the latest figure would equate to the equivalent of 200,000 dollars for every man, woman and child, the ONS figures showed.