The bar chart illustrates the contribution of the IT and service industries to the United Kingdom’s GDP between 1992 and 2000.
Overall, both sectors showed considerable growth as a percentage of GDP, but the IT sector remained at a higher ratio throughout the period.
At the beginning of the period in 1992, the service industry accounted for 4% of GDP, while the IT sector was slightly higher at just over 6%. By 1994, the service industry had risen moderately by about 1.5%, whereas the IT sector increased significantly to 8%. Over the next two years, both sectors continued to grow steadily, increasing by around 1% each year, although the IT sector dropped slightly from 1994 to 1996.
After that, the IT sector rose rapidly to 12% of GDP, while the service industry increased by just 1%. The IT sector continued to grow quickly and reached 15% in 2000, while the service industry stayed nearly the same, increasing to only 8%. By the end of the period, the percentage of GDP from IT was almost twice that of the service industry.
