UK maritime sector reports strong growth

Published on: 14 September 2017

Value of the maritime sector

UK maritime productivity, employment, turnover and contribution to GDP (gross domestic product) have increased nationwide over a five-year period, a new report from Maritime UK, the umbrella body for the UK's marine and maritime industry, has found.

The report, which was released this week during London International Shipping Week, found that over five years, the UK maritime sector had experienced a 12.7% increase in turnover, a 6.6% increase in GVA (gross value added) and 3.9% increase in employment. The industry now supports nearly 1 million jobs in the UK economy. It also showed that productivity per worker stood well above the UK average at £77,897, compared to £50,830, and that the sector contributes nearly £40 billion to the UK economy each year.

David Dingle, chairman of Maritime UK, said: “The report released today shows the vital role that maritime already plays in British life. Across the United Kingdom, we are seeing fantastic growth and we expect it to continue.”

Maritime UK, of which British Marine is a leading member, brings together the UK's entire marine and maritime industry, from boatbuilding and marine engineering, to shipping and ports. We have been heavily involved in the development and production of this report, which provides robust evidence on the size and value of the entire industry. The report includes separate studies on the key sectors within the industry, including one on leisure marine, which was built around British Marine's own data and research. It will prove a vital tool in highlighting the value of the maritime industry to the UK economy and will support industry's work with the Government to develop policies that will ensure UK marine and maritime businesses have the right support for when the UK leaves the European Union. 

The full report is available on the Maritime UK website at: https://www.maritimeuk.org/value/