10 facts on the state of British manufacturing

 

10 facts on the state of British manufacturing

Concise and valuable information on the current state of play for British manufacturing.

  • Manufacturing currently employs 2.6 million and accounts for 11% of GDP
  • Manufacturing drives half of all UK exports - the value of goods exports to non-EU countries doubled between 2003 and 2013
  • Manufacturing productivity, as measured by output per hour, surpassed its pre-recession peak at the end of last year.
  • The manufacturing sector's expenditure on R&D is equivalent to 8.8% of output, for the rest of the economy it's 0.3%.
  • EEF has revised its manufacturing growth forecast for 2014 up from 2.7% to 3.6%
  • The majority of manufacturing companies in the UK are SMEs and SMEs employ almost 60% of manufacturing workers
  • Average earnings in manufacturing are higher than those in the services sector and the economy as a whole.
  • Every FTSE 100 manufacturer now has at least one woman on their board - women now account for 21% of total directorships - up from 19% last year
  • The manufacturing sector will need almost one million workers by 2020 to replace those retiring or leaving the industry.
  • 66% of manufacturers plan to recruit engineering graduates in the next three years while over a quarter (27%) intend to take on those with business and administration degrees.

News Archive


Share this article on social media: