UK Manufacturing – world’s 8th largest industrial nation
- 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