Manufacturing contributed £217 billion in output to the UK economy last year
Make UK’s annual analysis of the latest manufacturing facts and statistics is out now. The sector contributed £217 billion in output to the economy last year, supporting 2.6 million jobs. Firms are investing more too than in 2023, with £38.8 billion worth of investment taking place.
Like last year’s edition, ‘UK Manufacturing: The Facts 2024’ again reveals that manufacturing jobs are better paid than most, with average salaries rising by £2,281 to £38,769 this year. In comparison, salaries in services and the wider economy average at £34,698 and £35,404 respectively.
The US remains the UK’s top export destination for manufactured goods, worth £61.8 billion and up from £56.7 billion last year, with Germany and the Netherlands rounding off the top three. In terms of imports, it is Germany who the UK bought the most manufactured goods from, spending £73.8 billion over 12 months.
As for the regional picture, the North West of England remains the leading manufacturing area of the UK, with output worth £29.5 billion, and is closely followed by the South East at £26.1 billion.
