Industries with the Biggest Decline in Exports in the UK in 2023

1. Headphone Manufacturing in the UK

Decline in Exports for 2023: -35.8%

Headphone manufacturing revenue is forecast to dip at a compound annual rate of 6.5% over the five years through 2022-23, inclusive of a 7.2% drop in the current year, to £19.2 million. Shrinking manufacturing capacity and intensifying import competition have contributed to the decline in revenue, compounded by weak consumer spending since the Brexit vote. There's a fair share of import competition within the industry, with the bulk of headphone manufacturing taking place in Asia, particularly China. Domestic producers invest heaps into R&D activities to produce new, top-quality headphone models.

Although the pandemic caused a surge in demand for headphones,... Learn More

2. Ready-Mixed Concrete Manufacturing in the UK

Decline in Exports for 2023: -17.5%

Ready-mixed concrete (RMC) is the principal material input for infrastructure, building foundations and panels cast on-site. RMC manufacturers batch, mix and deliver concrete to contractors in downstream construction markets. Industry performance is therefore contingent on levels of activity in commercial residential and civil infrastructure construction industries, which are sensitive to fluctuations in the wider economy. The industry offers a variety of products to cater to the diverse needs of downstream clients, from standard RMC to high-performance and rapid-setting ranges.

Over the five years through 2022-23, industry revenue is expected to increase at a compound annual rate of 1% to £3.8 billion,... Learn More

3. Prepared Pet Food Manufacturing in the UK

Decline in Exports for 2023: -14.3%

Industry firms manufacture prepared food for domestic pets, primarily cats and dogs. The industry has recorded strong revenue growth over the past five years, driven by premiumisation amid surging demand for products made with high-quality natural ingredients. The rise of pet parenting, where pets are treated as part of the family, has fuelled this trend, with consumers becoming more educated about the benefits of providing a nutritious diet for their pets and showing a willingness to purchase premium products that are marketed with health benefits. This has mitigated the effects of a potentially challenging operating environment, as consumer confidence has... Learn More

4. Organic Basic Chemical Manufacturing in the UK

Decline in Exports for 2023: -9.9%

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

5. Mining, Quarrying & Construction Machinery Manufacturing in the UK

Decline in Exports for 2023: -6.8%

Mining, quarrying and construction equipment manufacturers produce earthmoving equipment, excavators and processing machines. Manufacturers operate in a globalised market because machinery is sent to both domestic and international dealers. Construction activity in Europe influences the industry's performance with over half of UK produced machinery sold to EU countries. Revenue is expected to swell at a compound annual rate of 2.6% to £5.1 billion over the five years through 2022-23. This includes a projected growth of 2.1% in 2022-23.

The industry's success hinges on government funding that fuels the construction industry to build more homes. Fluctuating crude oil prices affect investment... Learn More

6. Paint, Coatings & Printing Ink Manufacturing in the UK

Decline in Exports for 2023: -6.2%

The Paint, Coatings and Printing Ink Manufacturing industry is expected to decline over the five years through 2022-23, with falling demand from mature end-user industries prompting consolidation activity amongst operators. The industry's largest players are subsidiaries of major international operators with strong national, regional and global brand names in various product segments. A number of businesses also operate on a vertically integrated basis, meaning that competition occurs throughout the supply chain rather than just at the manufacturing level.

Industry performance is influenced by the costs of raw materials, which in turn are contingent on world oil prices. Volatile oil prices have... Learn More

7. Clothing Manufacturing in the UK

Decline in Exports for 2023: -5.9%

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

8. Communication Equipment Manufacturing in the UK

Decline in Exports for 2023: -5.6%

The world is increasingly connected. People communicate through a host of devices and services such as smartphones and computers. Connections are made via radio, TV, infrastructure and smart devices such as alarm systems, which are now often connected directly to the authorities. Communications equipment is used to establish these connections and the manufacturing of such equipment has become an increasingly important part of the global manufacturing sector. UK firms specialise in the production of high-value products, competing on quality rather than on price. Despite high global demand, the industry is in long-term decline, as cost pressures have forced manufacturers to... Learn More

9. Inorganic Basic Chemical Manufacturing in the UK

Decline in Exports for 2023: -5.5%

The Inorganic Basic Chemical Manufacturing industry plays an important role in the UK chemical sector, producing a number of intermediate products used as basic chemicals in either industrial processes or manufacturing products. Such products include colloidal precious metals such as silver nitrate, chlor-alkali products, sodium cyanide, silicon dioxide, nitric acid and soda ash. However, declining import and export activity and falling demand from key markets during 2020-21 due to the COVID-19 pandemic have adversely affected industry performance. Industry revenue is expected to contract at a compound annual rate of 0.8% over the five years through 2022-23 to £2.4 billion.

Due to... Learn More

10. Hard Coal Mining in the UK

Decline in Exports for 2023: -4.6%

Over the five years through 2022-23, hard coal mining revenue is forecast to fall at a compound annual rate of 26.2%. Before COVID-19 hit, coal prices were inching downwards as demand for coal from electricity generators fell. The drop in sales and revenue has contributed to a sharp drop in the number of UK coal mines in the UK, with numerous mining licences expiring.

The COVID-19 outbreak accelerated the closure of coal mines in the UK; however, as the pandemic started to wind down, coal prices rose in response to supply chain disruptions. Russia's invasion of Ukraine has also played a... Learn More