According to the recent statistics, UK’S total manufacturing product sales has increased from 3.55 billion pounds to 342 billion pounds in 2012.
What are the sectors attributed to this growth? The following are some of the Industries that are booming in the UK which has enabled the state to become outstanding:
Transport and logistics
This is one of the growing industries in UK. The sector has employed 1.5 million people to do roles ranging from air transport to courier services. UK established nearly 85,000 business logistics in 2011. Recent survey has revealed that more than 50% of the respondents anticipated that there is a significant growth in the transport industry.
In the UK, there is a strong manufacturing tradition which goes back to the origins of industrial revolution. Before 2009, the manufacturing sector was generating revenues which were approximately 11.7% of the countries’ GDP. Nevertheless, it employed 8% of the population. Currently, the industry’s employment rate has accelerated. The most significant manufacturing sectors include: metal products, food and beverage, printing and publishing, machinery, pharmaceuticals and chemicals.
The office of the UK’S national statistics has revealed that the healthcare industry yield about 107 million pounds. This is because more than 4 million people are employees of the healthcare related positions. This shows that 12% of the total population is involved in the industry. The total revenue which the sector generates is more than 2 million pounds.
Oil and gas
The sector currently has almost 450,000 employees. The recruits are concentrated in Scotland where 45% of the total number of jobs in the gas and oil industry is located. In the year 2013, the gas oil revenue amounted to 11 billion pounds. The figure is set to increase to 200 billion pounds in the next twenty years. In addition to that, a recent price water house coopers survey estimated that a further 120,000 employees will be required in the oil and gas industry in the next 10 years.
Information technology (IT)
February 2014 statistics indicated that the information technology sector was worth 58 billion pounds. In order to function, nearly all the major industries relies on technology. Therefore, the important of technology cannot be underestimated. In addition to that, the UK industry employs more than one million people. This is equivalent to 3.7% of the UK’s active population. When the knowledge based economy becomes a reality, it is expected that half of the country’s GDP will be accounted for in this sector in the next 10 years.
The construction industry presently accounts for 6% (90 billion pounds) of the total United Kingdom’s GDP. According to the department of skills and business innovation 2013 report, there were 2.93 million employees who working in 280,000 construction firms in the country. This means that the construction industry value is nearly 10% of the working population in UK.
This is one of the country’s sources of employment. The UK’S universities alone contribute more than 73 billion of the UK’S economy. Consequently, the education sector employees more than 375,000 staff. Generally, 757, 000 people have benefited from the higher education sector. The reason why the education industry is booming is because many students are enrolled to pursue various careers. This increases the revenue collected from the education sector.