Manchester Economy

Manchester: An Economic Powerhouse

Since the days of the industrial revolution, it has played an important role in shaping the UK’s economy. Today, the region is home to more than 2.8 million people, with an economy bigger than that of Wales or Northern Ireland. Manchester’s business strengths have enabled it to develop a strong reputation as a competitive place to do business.

The ten metropolitan boroughs of Greater Manchester – Bolton, Bury, Manchester, Oldham, Rochdale, Salford, Stockport, Tameside, Trafford, and Wigan – represent the largest city region economy outside London, with a gross value added (GVA) of £62.8 billion. In the decade to 2012, the economy grew by 42% and it has been one of the major UK city-regions driving job growth (84% between 2002-2015*), at twice the rate of jobs growth of the north as a whole.

The ten councils– the first statutory “Combined Authority” in the UK outside London – and our Mayor coordinate key issues such as economic development, regeneration and transport. This governance structure has enabled the region to secure greater powers from central government to shape its own future and success. 

Economy at a glance

Greater Manchester’s economic growth has been driven by its diverse industry base, which has specialisms in:

• business, finance & professional services
• advanced manufacturing
• life sciences & healthcare innovation
• energy & environment
• creative, digital and technology

It is anticipated that the levels of job creation in Manchester could outpace that of cities such as Berlin, Tokyo and Paris between 2015 and 2020.**

* Centre for Cities 2018
** Beyond the City 2015, Oxford Economics