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July 16, 2024

Growth boost for NW manufacturers, new report reveals

Manufacturers in the North West have seen one of the highest increases in output of any English region or devolved nation in the last decade, as well as one of the best recoveries in output since the pandemic, according to a new report out today (July 15).

The Make UK/BDO Annual Regional Manufacturing Outlook report shows that since 2013 output in the region has increased by more than a quarter (26%), while output in 2023 was 12% above the pre-pandemic levels recorded in 2019, also one of the best in the UK.

The importance of the manufacturing sector to the region’s economy overall is highlighted by the fact it accounts for almost 15% of the region’s total output (13.4%), well above the national average.

It also accounts for 330,000 highly skilled jobs, almost 10% of the region’s employment overall, many of them in high value sectors such as Aerospace, Automotive, Pharmaceuticals and Chemicals.

Three major sectors account for half of North West manufacturing production with the largest being the Transport sector (largely aerospace and automotive) with a fifth (20%) of industrial output. This is followed by the Food and Drink sector at 15% and then Chemicals at 14.1%.

In 2023 the North West accounted for almost 10% of the UK’s total goods exports with the EU being the dominant destination (50%), equal to the regional average across the UK. This is followed by the United States (17%) and Asia & Oceania (17%)

Posted by: Hireaperson Employment agency