2024-08-01 03:36:51
The UK has left the top 10 ranking of countries by industrial production, falling behind Russia. This was reported by The Times newspaper, citing the Make UK organization, which unites companies in the industrial sector of the United Kingdom, Day.Az reports, citing TASS.
According to her, in the latest ranking, which reflects the picture for 2022, the UK fell to 12th place. This is four places lower than in the previous ranking, published a year earlier.
As noted in the article, the UK has given way to Mexico and Russia in the new list, which are in seventh and eighth place respectively. The reason for the growth in the first case is said to be the growth of Chinese investments in the Latin American country. In the second case, the growth of Russian defense spending is indicated.
China took first place in the ranking, the United States took second.
According to The Times, the UK manufacturing sector accounted for £217 billion ($282 billion) of output and employs 2.6 million people. However, as Make UK noted, the country needs a “long-term industrial strategy”. Unlike other industrialized countries, the UK simply does not have one, the organization claims.