The downward trends witnessed in 2023, continued through 2024 albeit with less marked falls in imports and exports compared to the previous year. Generally, trade was reduced with total export values down by 6.7%. In contrast, total export volumes rose by 2.3% suggesting a stabilisation or even slight increase in demand, albeit at lower overall values, suggesting falling prices for some export groups. Imports fell in both value and volume, down by 8.1% and 16.7%,respectively, suggesting falling demand but rising prices. The lack of consumer confidence, with global conflicts, rising cost of living and falling manufacturing volumes were almost certainly a factor in the ongoing difficulties faced by the industry. The UK was not unique in this current difficult situation with national industry associations across the globe, and Europe in particular, reporting very difficult trading conditions.
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