UK Export Finance (UKEF), the government’s export credit agency, backed £3.4 billion in manufacturing exports during 2024–25, underlining the sector’s growing contribution to Britain’s trade as the agency delivered a record year of guarantees.
The figure represents a 57% rise on the previous year, according to its latest annual report, highlighting the sector’s strength amid challenging global conditions, with manufacturing now accounting for a significant share of the £12.3 billion in total exports UKEF helped finance over the year.
Overall, UKEF issued £6.5 billion in guarantees in 2024–25 — the highest in its 105-year history — helping UK businesses secure contracts in 72 countries. The report notes that these guarantees enabled over £12.3 billion in total exports, safeguarding thousands of jobs and supporting a range of industries from aerospace to renewable energy.
Manufacturing remained the single largest sector benefitting from UKEF’s support, with aerospace alone accounting for £1.7 billion of the manufacturing total. Automotive, machinery, and other engineering exports made up the rest, reflecting the global demand for UK-made goods and the resilience of domestic manufacturers.
The report also highlights UKEF’s growing focus on sustainability. Around £1.1 billion of support went to clean energy and green projects, including offshore wind and hydrogen initiatives, aligning with the UK’s net-zero ambitions.
Small and medium-sized enterprises (SMEs) also saw increased backing, with over 80% of supported companies employing fewer than 250 staff. UKEF expanded its regional outreach over the year, providing workshops and advice to more than 1,200 businesses across the UK looking to grow their international presence.
Tim Reid, UKEF’s CEO, described the year as “transformational” for the agency, citing both the record guarantees and the broadening of its portfolio to include more green and digital sectors alongside manufacturing.
Looking ahead, the report outlines plans to further enhance UKEF’s role in supporting UK exporters as they navigate rising competition, supply chain pressures, and the global energy transition.
