Britain has slipped out of the top ten manufacturing nations for the first time ever, according to new research from industry body Make UK. The latest report, which evaluates 2022 performances, shows the UK has dropped to 12th place from 8th the previous year.
Mexico and Russia have edged ahead of Britain, securing the 7th and 8th spots respectively. Mexico’s rise is partly attributed to increased Chinese investment, while Russia’s boost is linked to a surge in defence production, which now accounts for 6% of its GDP.
China continues to lead the rankings, with the US holding onto second place. Despite the drop, Britain’s manufacturing sector remains significant, contributing £217 billion to the national output and supporting around 2.6 million jobs. However, Make UK stresses the need for a “long-term industrial strategy” to address these challenges.
Verity Davidge, Director of Policy at Make UK, expressed disappointment, stating, “There is no getting away from the fact that it’s deeply disappointing to see the UK drop out of the world’s top ten manufacturing nations for the first time. However, this isn’t a reflection of any decline in UK industry but of specific factors and trends that are redrawing the contours of the global economy.”