In June 2017, data showed that engine manufacturing in the UK fell by -2.2%. Despite this slight dip in the industry, year-to-date demand is up by 3.6%, according to information that has been released by the Society of Motor Manufacturers and Traders. Research has also shown that so far, 1,409,661 engines have been manufactured so far this year, in comparison to 1,360,201 recorded at the same time last year. This is great news for the manufacturing industry in the UK and hopefully, despite the dip in the figures for June, this improvement will continue.
The manufacturing industry has also received a good deal of investment over the past year, therefore the improvements that have occurred is a reflection of the industry delivering on this investment. However in June it was recorded that there were 236,727 engines have been manufactured in June 2017 in comparison to 242,011 in the same month in 2016. As a breakdown of these figures, 105,718 engines were manufactured for the UK market, which is a decrease of -0.9%, and for the export market, 131,009 engines were manufactured in June this year, which is a decrease of -3.2%.
This on the whole increase is promising considering the uncertainty looming over a range of British industries at the moment. It is often the case that over half of the engines that are produced in the UK are exported, because of this it is thought that manufacturers in the engine manufacturing sector will be paying close attention to the agreements being made as Britain looks to build a new working relationship with the EU after Brexit. In order to ensure that British engine manufacturers are still able to be competitive on a global platform, terms of trade need to be released sooner as opposed to later.