The British manufacturers’ organization “Make UK” (MAKE UK) released a report on the 29th, revealing the latest annual analysis of manufacturing statistics. Data show that in 2022, China is still the largest manufacturing country, with an output value of 5.06 trillion US dollars, accounting for almost 1/3 of the global output value. Second is the United States, with $2.69 trillion; Third is Japan, worth $850bn. Germany is the largest manufacturing country in Europe with an output value of $751 billion, ranking fourth in the world, followed by India and South Korea.

PFXC141 Britain dropped out of the top 10 industrial manufacturing countries for the first time, falling to 12th place after Mexico (7th) and Russia (8th), The Times of London reported on Monday. Speaking to The Times, the director of policy at Made in Britain said “certain factors and trends” were redrawing the contours of the global economy.

PFXC141 Britain has dropped out of the top 10 manufacturing countries for the first time since the Industrial Revolution, which is a “serious and seismic wake-up call” for the Labour Party, The Daily Telegraph reported on the 29th. The Made in Britain group has warned that the country needs “a long-term industrial strategy” to support manufacturing.

Around the world, major economies such as China, the United States and the European Union are investing tens of billions of dollars in industrial strategies. Manufacturing’s share of the UK economy has fallen sharply over the past 30 years. According to official figures, manufacturing accounted for 17% of the UK economy in 1990, but now accounts for just 9.4%. Since the financial crisis, UK productivity growth has fallen sharply to about 0.4 per cent a year. According to the Resolution Foundation, a British think tank, the UK has not experienced such slow growth in nearly 200 years.