Sunday, June 7, 2020

British manufacturing climbs up global rankings

Britain is now the eighth largest industrial nation with an annual output worth $249 billion as UK manufacturing continues to climb up the global rankings.

According to the 2017 manufacturing fact card from manufacture’s organisation EEF and Santander, Britain has risen about ninth place in the global rankings since last year.

In the post-Brexit world, manufacturing will increasingly provide Britain’s link to the world, currently generating 44% of total UK exports.

The sector is also vital for the nation’s future source of income, undertaking some 70% of total R&D by Britain’s businesses.

Data around employment is equally impressive, with 2.6 million people working within the manufacturing sector across the country.

The largest individual sector is food and drink (16%) while the chemicals and pharmaceuticals and transport sectors both account for 14% of output each.

It is these two sectors which also head up the manufacturing innovation league table, with ONS figures revealing that pharmaceuticals accounts for 34.4% of UK innovation, and transport 33%.

As a sector, the manufacturing good news story continues into comparable pay rates, offering higher wages than other sectors with highly paid, highly skilled jobs.

Average earnings have increased from £31,489 to £32,047, still sitting well above the take home totals from services (+£4,499) and some £3,748 more than the whole economy average pay.

Manufacturing is spread across the country – the North West remaining the biggest regional powerhouse, producing over £24 billionn output.

Manufacturing also helps power the engine of the West Midlands (£17.5 billion) and East Midlands (£15.9 billion), with their strength across the aerospace and automotive sectors.

A reminder of the post-Brexit challenge is ever present as EU markets still dominate for exports, accounting for 48% of manufactured exports in 2017q2. The UK’s largest single export destination is the United States, followed by Germany and France.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Union hits out at East Midlands aerospace parts firm as 420 redundancies planned

Aerospace parts firm SPS Technologies "must not exploit the lockdown" to slash jobs and terms and conditions at its sites in Nottingham, Leicester and...

Streets focus on job and employment schemes in latest business update

Streets Chartered Accountants provide details of changes to Coronavirus Job Retention Scheme including the introduction of flexible furlough in its latest business support update. As...

3 business tips for saving money during Coronavirus

Coronavirus has changed every business in the world. Whether you’ve been made to work remotely, put your staff on furlough, or redirected your resources into...

New ownership for Market Harborough ventilation, maintenance & hygiene company

System Hygienics, formerly the service arm of the Hotchkiss group - the largest duct manufacturer and installer in the UK – have new ownership,...

Construction of Kirkby’s new Leisure Destination takes a step closer

Plans to bring a new state-of-the-art leisure centre to Kirkby in Ashfield have taken another step forward. Ashfield District Council is seeking tenders from contractors...

Related news

Shared office spaces cautiously reopen

Many of the UK’s network of 5,000 shared office spaces are tentatively re-opening this month as more businesses return to the workplace as the...

Union hits out at East Midlands aerospace parts firm as 420 redundancies planned

Aerospace parts firm SPS Technologies "must not exploit the lockdown" to slash jobs and terms and conditions at its sites in Nottingham, Leicester and...

Streets focus on job and employment schemes in latest business update

Streets Chartered Accountants provide details of changes to Coronavirus Job Retention Scheme including the introduction of flexible furlough in its latest business support update. As...

3 business tips for saving money during Coronavirus

Coronavirus has changed every business in the world. Whether you’ve been made to work remotely, put your staff on furlough, or redirected your resources into...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close