Report: UK Consumer Electronics Manufacturing revenue falls

Industry research firm IBISWorld has updated its report on the Consumer Electronics Manufacturing industry. The firm said industry exports amounted to 1.78 billion GBP and imports amounted to 5.57 billion GBP in 2012-13. Imports hold a large share of the domestic market. Exports and, to a lesser extent, imports are inflated by re-exports, which are exports of imported products, the firm also said. Industry activity will be adversely affected by a decrease in the value of domestic demand and a decline in local manufacturers' export sales. Products manufactured in Asia and Eastern Europe dominate most consumer electronics markets in the United Kingdom. Over the next five years to 2017-18, industry revenue is expected to continue to fall IBISWorld said. Local manufacturers will continue to lose market share in the UK and in global markets to manufacturers located in countries where labour costs are low and supply chains are deep. Successful UK companies will be those offering very high quality products and attractive brands, although they will often choose to make their products outside the United Kingdom.