- A new CEBR report, commissioned by Maritime UK, reveals £116bn economic impact of UK maritime, more than rail and aviation combined.
- Industry supported 1,064,000 jobs in 2019, 45% more productive than the UK average, and well paid, with average remuneration 30% higher than the UK benchmark.
- The UK’s industry grew by 35% between 2010-19 and is projected to exceed pre-pandemic growth this year, thanks to ambitious investment pipelines and global transport recovery.
The Centre for Economics and Business Research (CEBR) has published a new report, commissioned by Maritime UK, highlighting the major impact the industry makes on Britain’s economy.
In 2019, maritime contributed £116bn in total turnover to the UK economy, 35% higher than 2010. For every £1 of turnover generated directly by the sector, a further £1.09 was generated indirectly across the supply chain, underscoring the far-reaching impact of an industry that carries 95% of Britain’s global trade.
The sector’s direct turnover stood at £55bn in 2019, which outstrips the economic contribution of rail and aviation combined, and puts the industry ahead of road transport. And in 2019, UK maritime supported £48.9billion in GVA, an increase of 39% on 2010.
According to the CEBR, the sector’s ambitious investment pipeline and a quick recovery in global transport patterns, will lead to growth exceeding pre-pandemic levels by the end of 2022. Between 2021-2025, the CEBR predicts UK maritime will grow by 16%.
Further information on this report can be read here.