- Day-to-day banking
Day-to-day banking
Our day-to-day banking services cover everything you need to run your company finances, from accepting credit card payments to paying your bills.
- Finance
Finance
At Santander, we understand that to expand your operation you need access to finance. Here you’ll find a range of options suited to short and long-term needs.
- International trade
International
We’re focused on bringing a fresh perspective to businesses with ambitions to grow beyond traditional markets.
Our extensive local networks and knowledge around the world means we’re ideally placed to support your international trade plans. Let us help you uncover the path to international success.
- Sectors expertise
Sector expertise
Our sector specialists are here to help you prosper.
We understand the complexity and evolving needs of businesses in a wide range of industries. Our experts will work with you to help turn your aspirations into reality.
- Insights & events
Insight & events
Read the latest Santander news, market developments and insights, as well as register your interest to attend our events held across the UK.
Make UK/Santander analysis shows Europe remains top destination for UK manufactured goods
Make UK/Santander analysis shows Europe remains top destination for UK manufactured goods

The critical importance of the UK agreeing a deal with the EU which avoids barriers to trade is highlighted today by new analysis which shows that manufacturing exports to the top six EU markets alone are worth around a third of total goods exports.
Key findings
- Top six European markets account for a third of total manufacturing exports
- UK goods exported to the US jumped by 19% year-on-year
- UK retained position as 9th largest manufacturer and 10th for global exports
- Average pay in manufacturing - £34,538 - remains significantly higher than services and economy overall
According to the research, ‘UK Manufacturing Facts, 2020/21’, published by Make UK, the manufacturers’ association, and Santander UK, total global exports stood at £367bn. While the US was the single largest importer of UK manufactured products, seven out of the top ten UK export markets are based in Europe, including Germany (2nd), France (3rd) and Ireland (4th). China, ranked fifth, was the only other top ten destination for UK goods outside of Europe and the US.
Exports to the top six European markets – Germany, France, Ireland, Netherlands, Switzerland and Belgium – were worth £117.4bn alone. Just under half (46%) of all UK manufactured goods were exported to European countries combined, totalling £169bn. The US was the single biggest export destination and saw a 19% increase on last year, equating to £54.4bn.
The research also showed that the UK retained its position as the ninth leading manufacturer and tenth in terms of global exports with output totalling £191bn in 2019 – a growth of 7% over the last five years. The data also reveals that among the 2.7 million people employed by UK manufacturers, the average salary stands at £34,538 – 13% higher than the average UK salary.
Stephen Phipson, Chief Executive at Make UK, said:
These figures lay bare the overwhelming importance for manufacturers of trade with our closest market and the need to avoid imposing any barriers which will make this more difficult.
Whilst the United States remains the biggest market and presents significant opportunities for export growth, it is a fallacy to believe that geography is not the biggest factor driving trade. For UK manufacturers, access to their biggest market must be a premium.
The figures also provide an important reminder that we’re still one of the top ten biggest manufacturing nations and we want to see policy makers working with industry to help move UK manufacturing up the rankings.
According to the data, Transport Manufacturers were the largest exporters (22%); Food and Drink remained the leading subsector for output (17%) while; Transport also generated the most in terms of R&D (36.4%). This spend on R&D highlights the critical importance of the automotive and aerospace sectors to the long-term high value growth of the economy, despite the major impact of the pandemic on these two sectors in particular.
The data, captured before the Coronavirus outbreak shows that goods exports (53%) outweighed that of services (47%) while the sector continues to punch above its weight contributing 66% of total UK spend on R&D and 16% of business investment.
Paul Brooks, UK Head of Manufacturing, Santander UK, commented:
Our manufacturers have shown unyielding resilience over recent months. Retaining our position as the ninth leading manufacturer makes it clear that the UK is still a major player on the international stage, but we must not rest on our laurels. This data underlines the importance of prioritising manufacturing as the UK establishes new trading relationships with partners around the world.
The ONS has made some revisions to manufacturing output for the last few years. The figure for 2018 of £192 billion was revised down to £190 billion hence why this year’s figure appears lower than the figure quoted in the 2019 Make UK/Santander Fact Card.
More about how we help customers in the Manufacturing industry.