You should spend about 20 minutes on this task.
Summarize the information by selecting and reporting the main features and make comparisons where relevant.
Write at least 150 words.
The given chart illustrates the Gross Domestic Product generated from the IT and Service Industry of the UK from the period 1992 to 2000.
Here, both the sectors demonstrate a positive growth trend, but the overall growth in IT is higher in all the years as compared to the Service Industry. In the span of 8 years, the contribution from the IT sector has almost doubled i.e from over 6 % to approximately 15 % whereas the contribution from service sector shows steady growth from 4 % to slightly above 8 %. Initially, there was a difference of around 2 % in the contribution from both these sectors. However, in the next 4 years, this difference was reduced to approximately 1 % after a drop in contribution from the IT industry, to under 8 %.
Later in the subsequent 4 years, there was a phenomenal increase in the contribution from the IT industry, but the service industry continued to grow at a slow and steady pace. At the end of the period under study, the contribution from IT industry was approximately 15% whereas Service Industry contributed slightly above 8%, which is almost half than that of the contribution from the IT sector.
The given chart illustrates the Gross Domestic Product generated from the UK’s IT and Service Industry from 1992 to 2000. The contribution of these sectors is expressed in percentage of GDP.
Overall, both sectors’ percentage contribution to the GDP of the UK almost doubled. However, the percentage contribution to the UK’s GDP by the IT industry grew faster than that by the service industry.
In 8 years, the percentage contribution from the IT sector to the UK GDP went from over 6 % in 1992 to approximately 15 % in 2000. Simultaneously, the service sector’s contribution shows steady growth from 4 % to slightly above 8 % in the same period.
In 1992, IT contributed 2 % more than the service sector. However, in the next four years, this difference was reduced to approximately 1 % after a drop in contribution from the IT industry to under 8 % to the UK’s GDP. Later, the percentage contribution by IT bounced to 12% and 15% in 1996 and 2000 respectively. However, the share of the service sector to the UK’s GDP increased by less than 1% in the same period.