Biggest Exporting Industries in the UK in 2023

1. Precious Metals Production in the UK

Exports for 2023: $61.9B

Industry operators recycle gold, silver and platinum group metals from many materials. Sales of platinum group metals are heavily influenced by the performance of the automotive sector, as the commodity is a crucial input in the manufacture of catalytic converters. Platinum is more prevalent in diesel vehicles and palladium in petrol vehicles, although all catalysts contain a proportion of platinum, palladium and rhodium. Gold and silver are both used to make jewellery and have a variety of industrial uses. Furthermore, they are also popular with investors, who consider them a safe investment for their wealth, causing gold and silver prices... Learn More

2. Aircraft, Engine & Parts Manufacturing in the UK

Exports for 2023: $21.7B

The industry is the second largest in the world after that of the United States. It is a major source of investment, research and development, and is particularly renowned for the production and assembly of aircraft wings and manufacture of aircraft engines. Orders for aircraft and aircraft equipment are typically placed years in advance, meaning deliveries continue even in periods of economic uncertainty.

Over the past five years, revenue has been supported by rising demand for new fuel-efficient aircraft that make use of composite materials. In addition, a significant backlog of orders aided deliveries over the period. Nevertheless, industry revenue is... Learn More

3. Motor Vehicle Manufacturing in the UK

Exports for 2023: $18.8B

The Motor Vehicle Manufacturing industry has declined over the past five years. Car sales have dipped because of households tightening their budgets. Car production output fell by 14.2% and engines fell by 7.2% in 2019, when compared to the previous year, according to the SMMT. The COVID-19 outbreak deepened the industry's troubles with output falling by 29.3% in 2020, when compared to 2019. Revenue is forecast to fall at a compound annual rate of 5.9% to £46.6 billion over the five years through 2022-23, including a projected decline of 2% in the current year.

The car production industry has been plagued... Learn More

4. Pharmaceutical Preparations Manufacturing in the UK

Exports for 2023: $16.5B

Companies in the Pharmaceutical Preparations Manufacturing industry produce medications, chemical contraceptive products, medical diagnostic preparations, radioactive in-vivo diagnostic substances and biotech pharmaceuticals. The United Kingdom is one of the largest pharmaceutical markets in the world, so the industry commands an important position in both the global pharmaceutical market and the UK economy. A large proportion of revenue is derived from export sales, but the value of exports has declined over the past five years.

Industry revenue is expected to grow at a compound annual rate of 2.7% over the five years through 2022-23, including revenue growth of 2.4% in the current... Learn More

5. Petroleum Refining in the UK

Exports for 2023: $12.2B

Operators in the Petroleum Refining industry use a refining process to manufacture petrol and petroleum-based products such as Vaseline, petroleum jelly, paraffin wax and white spirit. Most refineries are geared towards petrol production and have been negatively affected by declining demand for petrol, as this led to oversupply. Some industry operators have closed refineries over the past five years, while others have aimed to find new markets for their excess petrol. A number of operators have altered their production to focus on diesel as the new primary fuel. Diesel is more fuel efficient than petrol and until recently was considered... Learn More

6. Crude Petroleum & Natural Gas Extraction in the UK

Exports for 2023: $9.8B

UK oil and gas production has diminished over the past decade because old oil fields have matured and it has become increasingly challenging to develop new commercially viable sources. Extractors have pooled their resources and formed partnerships, enhancing efficiency. Some extractors have benefited from previous investments in fields coming onstream. Revenue has swelled at an expected compound annual rate of 4.4% to £28.9 billion over the five years through 2022-23. This includes a projected growth of 32.1% in 2022-23.

In 2020-21, revenue tanked because of the COVID-19 outbreak. Lockdowns across the world led to oversupply and a standstill in demand, causing... Learn More

7. Off-Road Vehicle Manufacturing in the UK

Exports for 2023: $7.3B

The Off-Road Vehicle Manufacturing industry's revenue is forecast to decline at a compound annual rate of 5.9% over the five years through 2021-22 to £15.1 billion. Economic uncertainty and weak consumer confidence contributed to year-on-year declines in industry revenue over the four years through 2020-21. Moreover, the threat of supply chain disruption surrounding proposed exit dates led to some UK firms temporarily closing plants to mitigate issues, reducing industry output. Industry revenue fell in 2020-21 due to disruptions caused by the COVID-19 (coronavirus) outbreak.

Car manufacturing output, including the production of sport utility vehicles (SUVs) and crossover-utility vehicles (CUVs), has fallen... Learn More

8. Jewellery Manufacturing in the UK

Exports for 2023: $6.9B

The Jewellery Manufacturing industry produces traditional and bridal jewellery such as rings, necklaces and bracelets. Costume and jewellery related to fashion is also a major focus for the industry. Smaller market segments include goldsmiths' articles and technical or laboratory articles. The manufacture of imitation jewellery and jewellery repair is not included in this industry. The majority of products are made using pearls, precious and semi-precious stones, and precious metals.

Over the past five years, industry demand has remained robust, influenced by falling unemployment and rising real household disposable income. Despite this, political events have negatively affected consumer confidence, dampening demand for... Learn More

9. Organic Basic Chemical Manufacturing in the UK

Exports for 2023: $5.9B

The Organic Basic Chemical Manufacturing industry plays an important role in the chemical sector. Operators convert petrochemical feedstocks into basic organic chemicals such as olefins. Many of the products manufactured by the industry are the fundamental building blocks in a variety of consumer and industrial products. Greater production capacity in countries with low-cost manufacturing has made it difficult for operators to regain lost ground over the past five years. Industry revenue trends generally follow the movements of key feedstock prices, namely the global price of Brent crude oil and natural gas.

Industry revenue is expected to contract at a compound annual... Learn More

10. Clothing Manufacturing in the UK

Exports for 2023: $5.7B

Over the five years through 2022-23, industry revenue is expected to decrease at a compound annual rate of 9.2%. Historically, industry operators have relied on the strength of the Made in Britain label and the boom in emerging economies, creating a new wave of consumers with spending power, desiring British-made goods and brands such as Mulberry and Burberry. Moreover, production in the Far East is not as cost-efficient as it once was, causing several businesses to relocate production facilities closer to home. The boom in popularity of fast fashion has also afforded the industry an opportunity for expansion as consumers... Learn More