2024-07-30 02:56:09
Britain has dropped out of the top ten countries in industrial production and is now behind Russia, the Times reported, citing Make UK, an organisation that unites British industrial companies.
According to her, in the latest ranking reflecting the reality of 2022, Britain fell to 12th place. This is four places lower than in the previous ranking published a year earlier.
The article noted that Britain fell in the new list to Mexico and Russia, which ranked seventh and eighth respectively. The article said that the reason for the growth in the first case was the growth of Chinese investments in Mexico. In the second case, it was the increase in Russian defense spending.
China ranked first in the new ranking, followed by the United States in second place.
According to the article, Britain’s manufacturing sector accounts for £217 billion ($282 billion) of products and employs 2.6 million people.
Make UK notes that Britain needs a “long-term industrial strategy.” The foundation argues that the UK does not have one, unlike other advanced industrial nations.
Last updated: July 29, 2024 – 18:12
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2024-07-30 02:56:09