19 September 2017
UK becomes world’s eight largest industrial state
Britain has climbed a place higher in the rankings to become the eighth largest industrial nation, a new report shows.
According to the organisation EEF - formerly the Engineering Employers' Federation - the UK's manufacturing output is worth more than £183 billion to the country's economy.
Lee Hopley, chief economist at the EEF, says the figures will go a long way in assisting the Government to make key policy decisions on future trading.
He said: "Our latest annual fact card reveals that manufacturing's share of the economy remains stable at 10%, but the sector makes a much larger contribution to vital exports and innovation."
The food and drink sector is leading the way, producing 16% of all industrial output, according the manufacturers' association.
Meanwhile, the transport industry and the chemical and pharmaceutical sector are accounting for 14% each.
The UK is the fifth largest economy, according to a Business Department spokesman, saying manufacturing plays an integral role in Britain's global success, as the country makes its preparations for Brexit.
"Our industrial strategy is supporting the sector, ensuring it can continue to grow and share its success through the creation of good jobs across the whole of the country," he added.