UK Manufacturing – world’s 8th largest industrial nation

30th October 2019 / NewsBits
  • Manufacturing contributes £6.7 trillion to the global economy.
  • Contrary to widespread perceptions, UK manufacturing is doing well, with the UK currently the world’s eighth largest industrial nation.
  • If current growth trends continue, the UK will break into the top five by 2021.
  • In the UK, manufacturing makes up 11% of GVA*, 44% of total UK exports, 70% of business R&D, and directly employs 2.6 million people.

*gross value added (GVA) is the measure of the value of goods and services produced in an area, industry or sector of an economy

Source: The Manufacturer

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