UK Mfg Climbs to Eight in World Rankings - Make UK Report
Make UK have today released their latest report, ‘Manufacturing – The Facts’ for 2023!
The report outlines that UK manufacturing climbs to eighth in world rankings overtaking France in the process. The sector can close the gap to Italy in seventh place with a 15% UK GDP target and the development of an industrial Strategy.
The figures also contains show a wide variety of data about the contribution of manufacturing to the economy including exports, sectoral breakdown, how the UK compares to other nations and salary levels. The analysis also shows that, contrary to popular opinion, manufacturing jobs are better paid than both services and the economy overall. According to official data the average salary in manufacturing in 2022 was £36,488, which compares to £33,402 for the economy overall and £32,676 for services.
Key Findings
• UK manufacturing output worth £224bn in 2022
• Separate data places the UK eighth in the latest world rankings in 2021
• Six of the top ten export markets for UK goods remain in the EU
• Aerospace & Transport sees largest growth in exports
• Average salary in manufacturing almost 10% higher than the economy average
• North West the biggest manufacturing region, Wales the highest share of manufacturing