MANUFACTURING
CORNWALL
POLYMERMEDICS
Manufacturing a
covid recovery
Cornwall’s manufacturing sector is a vital contributor to Cornwall’s GDP, accounting for approximately 10% of the Duchy’s economy. Britain’s manufacturers have hit a record high level of output and orders in this last quarter. Output volumes have reached the highest level ever recorded, UK and export orders are soaring and the 2021 growth forecast sits at +7.1%. A strong domestic market and improving export sales
have expanded order books at a record rate and you would think that all this extraordinary buoyancy in the industry is all good news? Not quite. The most recent data certainly continues to support the fact that manufacturing is recovering post Covid and yet, there is another side. Raw material prices are still rising sharply as manufacturers feel the impact of ongoing supply-chain disruptions and rapidly expanding shipping costs and add in inflation, growing to a record high on balance, you have a formula of rising costs that tops every manufacturers concerns. Further to this, there’s also the additional barrier of labour shortages with recruitment across the sector struggling at every level.
SMITHS METALS
16 | BUSINESS CORNWALL
Jon Hurrell, CEO of the Cornwall Manufacturers Group, says: “Our members have never seen a time like it. Many are
having difficulty filling vacancies and with expectations for employment to expand substantially by the end of this year, Cornwall is awash with opportunities for those with skills in engineering and manufacturing. However, the lack of a skilled workforce in our specialist sector is the crux of the problem.”
186,000 skilled Engineers are needed annually until 2024 to plug the skills gap
It’s recognised that UK manufacturing and engineering has a big skills shortage. According to a recent Government study, 186,000 skilled engineers are needed annually until 2024 to plug the skills gap, and almost 20% of the current workforce is due to retire by 2026 according to the Engineering Construction Industry Training Board (ECITB).
