Enduring strengths:analysing the UK’s current and potential economic strengths, and what they mean for its economic strategy, at the start of the decisive decade

Key to building a new economic strategy which can revitalise the UK economy after a decade of stagnation is understanding our current strengths, how these strengths evolve, and the trade-offs they present. The report uses global data on trade in goods and services and patenting to uncover where the UK’s relative strengths lie; we study the extent to which these strengths have changed over time and compare with international peers; and undertake several deep dives into the areas in which the UK has developed a specialism. Finally we consider what the UK’s mix of specialisms means for a wider economic strategy.