This results from an\u00a0<\/span>analysis<\/a> by Make UK in collaboration with Santander: the UK is the ninth manufacturing nation in the world, with European countries being a key export market.<\/span><\/p>\n Between 2019 and 2020, British exports<\/strong> to the seven most prominent EU destinations reached \u00a3236.5bn<\/strong>. While the US is the single largest market, with over \u00a3118bn of exports, European partners <\/strong>continue to play a critical role<\/strong> for British businesses.<\/p>\n The next few months will be vital for companies to get back on track: the uncertainties still linked to Brexit represent an obstacle that should not distract from the need to develop new winning strategies<\/strong>.<\/p>\n The figures in the Make UK report speak for themselves: the sub-sector holds a crucial position in the British economy, representing a significant (17.9%) worth of exports. Directly after transport sector.<\/p>\n This is also reflected in R&D spending<\/strong>: the two industries account for around 70% of investment in the entire manufacturing sector.<\/p>\n More specifically, the chemical-pharmaceutical sector contributed 33.3% of total expenditure<\/strong> in this area in 2017: a clear sign of the capacity for innovation<\/strong> possessed by companies in the field.<\/p>\n In Europe, Germany<\/strong> plays a critical role in the import of UK chemicals. In 2018, UK exported a total approximately $8 billion<\/strong> worth of chemicals according to Statista.com<\/a>.<\/em><\/p>\n The need to make up lost ground<\/strong> undoubtedly requires policymakers’ action to enable UK companies to continue to play their part in Europe.<\/p>\n Proximity<\/strong> to the continent has always been one of the essential factors for UK manufacturing exports, including chemicals. For this reason, market players are being asked to keep a close eye on the evolution of this trend over the coming months.<\/p>\n Forecasts of an upturn in production<\/strong> also require companies to be prepared. How? By strengthening existing partnerships<\/strong> and building new ones<\/strong>.<\/p>\n Not an easy task, but one that will undoubtedly pay off: companies are aware of the importance of the right business allies, both in the domestic market and abroad.<\/p>\n Therefore, carefully mapping out the target geographical areas<\/strong> and identifying the right markets<\/strong> will be a priority to boost UK chemical exports in the upcoming months.<\/p>\n![\"UK](\"https:\/\/www.matchplat.com\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.png\" "\\"Matchplat\\"")
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