15 July, 2024

Devolved nations see manufacturing jobs boost

15 July, 2024

The report also analyses the growth in output across each nation and region over the last decade, as well a comparison between pre and post-pandemic levels of output. It shows that, despite the challenges posed by Covid, Brexit and the energy crisis, every English region bar one has shown double digit growth in Gross Value Added (GVA) since 2013. Yorkshire & Humber has seen the best growth in output in that period (40%), followed by the North East (30%), and South West (27%). This compares to the average growth in manufacturing GVA across the UK overall in the same period of around 23%. (3)

Furthermore, the report highlights the importance of manufacturing to regional economies with every area in the UK, except for the South East & London, seeing an above average contribution from manufacturing to its local economy. For example, the North East may have the smallest share of overall manufacturing output in the UK (around 4% of total manufacturing), but industry accounts for almost 15% of the region’s total output. The East Midlands has the highest share of manufacturing in its regional economy at almost 16%, while the West Midlands and Yorkshire & Humber also have a significant contribution above the national average. According to Make UK, this highlights the importance of the new Government’s industrial strategy to raising the performance of regional economies and, addressing inequality, given manufacturing jobs are better paid than the national average.

The survey also shows that every region and nation has returned output above pre-pandemic levels apart from the West Midlands due to the downturn in the automotive sector and the transition of supply chains to electric vehicle production.

https://twitter.com/MakeUk_

https://www.linkedin.com/company/makeuk/

https://twitter.com/bdoaccountant/

https://www.linkedin.com/company/bdo-llp/




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