UK manufacturing slips to twelfth in world rankings

29 July, 2024

Six of the top ten export markets are in the EU, worth approximately £150bn which is almost three times the exports to the US and around eight times the amount to China (£21.4bn). According to Make UK, this highlights the continued importance of the EU for UK goods and the need for the new Government to smooth out trade barriers with what overwhelmingly remains the UK’s dominant export market.

By sector, the food and drink sector is the biggest contributor to manufacturing Gross Value Added (21%), followed by the Transport sector (largely aerospace and automotive) at 15%.

The North West remains the biggest manufacturing area of the UK, worth £29.5bn in output and employing 330,000 people (3). The sector accounts for almost 15% of the North West economic output overall and 8% of regional employment. The East Midlands has the highest share of manufacturing as part of its regional output overall with the sector accounting for almost 16% (15.9%) of the East Midlands economy. This compares to just under 10% national average.

The analysis also dispels the continuing myth that manufacturing jobs are badly paid when, in contrast, the average manufacturing salary at £38,769 is 10% higher than for the average of the economy overall at £35,404 (4).

1. Source UNCTAD 2022 data.

2. UK Trade, ONS, 2024

3. ONS, 2024

4. ONS, 2023

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