The Growth of UK Manufacturing
4th July 2022
The Growth of U.K. Manufacturing
After the hardships the U.K. has been through in recent years, such as Brexit, Covid-19 and a decade of the Tory Government, the U.K. remains the 9th largest manufacturing nation globally. We have an output sector of £183 billion and an average manufacturing wage 12% higher than the whole economy. Therefore the growth of U.K. manufacturing is evident.
From 2010-2020, several sectors have grown in terms of % of U.K. exports. Metals (5.2%), aerospace & transport (4.1%) and food and drink (3%) are currently the frontrunners of this growth. The steady growth of a wide range of sectors throughout the U.K. means that different areas benefit. The development range also means that a wide variety of trade workers are supported. The list of those whose profit is rising due to U.K. manufacturing growth is endless, from aeroplane engineers to bakers.
Trade deals and Brexit
This growth means that the U.K. also has an opportunity to create relations with other countries in terms of trade deals. As a result of Brexit, there has been recent confusion about whether the U.K. would be able to strike up a trade deal with the U.S. Despite this, the U.K. signed its first U.S. state-level trade agreement with Indiana last month. As the U.K. continues to make more deals with the U.S., the growth of exports will only increase. As it stood in 2020, the exports to the U.S. were bringing £57.72 billion, and last year there was a slight increase to $60 billion. However, growth may have been stunted due to Covid-19. The U.K.’s ability to make trade deals, even in the toughest of political climates, means that U.K. manufacturing is trusted globally.
The Effect of Coronavirus
It’s worth mentioning that although the figures from MAKE U.K. (The Manufactures’ Organisation) show growth, there was a “substantial reduction in the U.K.’s manufacturing sector output in 2020” as a result of the pandemic. “However, M.A.KE U.K. By the end of 2022, we expect the sector’s output value to return to its pre-pandemic level. Therefore things are already beginning to look up for the manufacturing industry and its growth.
Made in Britain
Made in Britain (MiB) is a not-for-profit organisation primarily focused on boot U.K. manufacturers and companies. They say that “supporting skilled British workers, our economy and helping to maintain the U.K. Security industry is largely embedded within our company values and fuels our desire for success.” Companies like these are vital to U.K. manufacturing as it reminds those purchasing goods where they come from and that they are proud to be British. The logo is a symbol of standard and unity across the globe.
Here at SMP, we are proud to have a long-standing relationship with MiB and are pleased to have a 45-year-long history with the U.K. manufacturing industry. Proudly, we are one of the most respected and last remaining U.K. safe manufacturing companies. Therefore we know a lot about the sector, and we look forward to seeing it blossom as the year progresses as well as we work our way back to the pre-pandemic levels of growth.
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