Sectors
Manufacturing
In 2024, the UK manufacturing industry is navigating a challenging landscape marked by slow growth and economic uncertainty. The sector’s output is projected to amount to $647 billion, with a compound annual growth rate of 0.76% expected from 2024 to 2029. Employment in the industry stands at over 2.5 million people, and manufacturing accounts for 51% of all UK exports. Despite these figures, the industry is facing stagnation, with growth expected to remain flat at 0.1% for the year.
The number of enterprises in the manufacturing market is projected to reach 131,800 in 2024. While the industry shows resilience, significant geopolitical and economic risks continue to pose challenges, impacting demand and supply chain stability (Statista, 2024; RSM UK, 2024).