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11 September 2017

UK maritime sector reports strong growth as it prepares for ‘crucial role’ post-Brexit

“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.” said David Dingle, chairman of Maritime UK.

Maritime productivity, employment, turnover and contribution to GDP have increased nationwide over a five-year period, a report has found.

The report, which was released today to coincide with London International Shipping Week, found that over five years, the British maritime sector had experienced a 12.7% increase in turnover, 6.6% increase in GVA and 3.9% increase in employment.

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.

The sector continues to invest in its people, with average pay also well above the UK average at £39,300, compared to £27,600.

This week, Maritime UK welcomes international and domestic industry and government delegations, as the sector prepares to play a greater role in the economy in the wake of Brexit.

Mr Dingle said:

“As the engine of British trade, the UK maritime sector supports nearly 1 million jobs, contributes tens of billions to the UK GDP and drives exports as well as inward investment. Half a trillion pounds worth of goods pass through UK ports each year” 

“The importance of the sector will only grow post-Brexit. We’re supremely confident that we can play a crucial role in positioning Britain as an outward-looking, global trading maritime nation.

“London International Shipping Week is an opportunity to place our world-class maritime offering in the shop window, as government and industry figures from across the world come to see the best of British.”

“Equally important will be the various conversations that will take place between UK maritime leaders and Government. Maritime is the facilitator of UK trade, with 95% of all our imports and exports coming on ships and through our ports. The effectiveness with which we can do this rests in no small part on the strength of our relationship with Government and the level of support that we receive from it.”

UK maritime sector reports strong growth as it prepares for ‘crucial role’ post-Brexit