According to association’s annual ‘Manufacturing – The Facts’, in 2021 (the latest year for which global comparisons are available) the UK’s manufacturing output was worth some $272bn, compared to $262bn for France, but behind Italy ($314bn).
China is the largest manufacturing nation worth $4.9tn, followed by the United States $2.5tn and Japan $995bn. Germany is the largest European manufacturing country $803bn and is ranked fourth in the global rankings.
Make UK said that while the climb up the rankings was encouraging, it strongly cautioned that it is only the third time since 2002 that the UK has ranked above France and cannot be attributed to any post Brexit bounce or other specific factor.
Make UK believes that if the Government commits to its call for a manufacturing target of 15% of GDP, (which Make UK estimates would add £142bn to the UK economy) then the sector could aim to match seventh ranked Italy.
Make UK repeated its calls for a long-term, modern, and robust Industrial Strategy which could help turn the 15% ambition into a reality.
The analysis of official data also shows that the United States remains the dominant export market for UK goods worth £56.7bn in 2022, however European markets accounts for upwards of £150bn.
According to Make UK, this highlights the continued importance of the EU for UK goods and the need to smooth out trade barriers with what remains overwhelmingly its dominant market.
