UK Electronics: Less than 5% of total manufacturing output but generates £8.4bn GVA
March 14, 2019 / Jonny Williamson
The UK electronics sector experienced the fastest growth of any manufacturing sector in 2018, according to a new report by Santander and Make UK. Despite representing less than 5% of total manufacturing output, the UK electronics sector generated £19.4bn in turnover and £8.4bn in gross value added (GVA) in 2017.
Following almost 20 years of decline, the sector experienced a major rebound in growth in 2017 and 2018: up 4.4% and 12.4% respectively. Paul Brooks, Head of UK Manufacturing at Santander UK, said: The UK electronics sector continues to punch above its weight and, with the fast growth in technology, is well placed to cement itself as a core manufacturing sector.