UK Maritime Sector Showing Remarkable Resilience

The fullest ever study of UK shipping, ports & maritime business shows remarkable resilience in the face of continuing economic challenges.

The UK shipping industry has created 7,300 UK jobs in the past two years, and 537,500 UK jobs are now supported by the shipping, ports and maritime business sectors, according to a newly-released study by Maritime UK.

The healthy employment statistics are bolstered by news that the industry now contributes nearly £32bn to UK GDP and provides £8.5 billion in taxes to the Exchequer.

Jim Stewart, Chairman of Maritime UK said:
“Shipping moves 95% of the UK’s international trade, so at a time of fierce economic challenges these figures paint a picture of remarkable resilience”.
Mr Stewart reflected on the 20% increase in GDP contributions in just two years. “We all know that aviation and railways usually get the headlines, but maritime services are a much bigger contributor to the economy, and the whole country should be proud that one of its oldest industries is continuing to deliver for Britain. And at a time when the public wants confidence in the tax arrangements of industry, we are pleased to say the industry as a whole contributes £8.5bn to the Exchequer.”

Mr Stewart concluded:
“The maritime services sector is global by its nature.  The UK has always been seen as a centre of maritime excellence, but with competition emerging from maritime centres elsewhere, these massive economic contributions could be put under threat.  What we need is a consistent maritime strategy from Government that will protect and promote the industry, so that we can carry on creating jobs and playing our part in the country’s economic recovery.”

Free downloadable copy of the report available here.