UK now world’s eighth largest industrial nation
Britain’s manufacturing renaissance has continued, with the announcement that Britain is now the eighth largest manufacturer by output in the world – less than a year after it climbed to ninth.
New data shows that Britain is now the eight largest industrial nation with an annual output worth $249bn, according to the latest facts and figures published by EEF and Santander.
In the post-Brexit world, manufacturing will increasingly provide Britain’s link to the world, currently generating 44% of total UK exports.
The sector is also vital for the nation’s future source of income, undertaking some 70% of total R&D by Britain’s businesses.