Maritime UK represents a substantial part of the British economy:
In February 2013, Maritime UK launched a series of studies into the economic contribution made by the maritime services sector. The studies were the most complete statistical analyses of the shipping, ports and maritime business services sectors ever to be undertaken. These include regional breakdowns, as well as a national representation of GDP, tax and employment contributions. You can download the papers below.
The UK maritime services sector …
Here defined to include the ports, shipping and maritime business services sectors.
…directly creates 262,700 jobs…
We estimate that the maritime services sector creates 262,700 jobs or 0.8%of total UK employment. This figure implies that the industry was a larger employer than, for example, either the accountancy or general medical practice industries.
…contributes £13.8 billion to UK GDP…
On this basis,we estimate that the maritime services sector made a direct £13.8 billion value-added contribution to GDP or 0.9% of the UK total. Therefore, the maritime services sector made a larger contribution to UK GDP than both the civil engineering and electricity distribution industries.
…and generates £2.7 billion for the UK Exchequer
And, in addition, the maritime services sector directly generates over £2.7 billion for the UK Exchequer, through a combination of taxes paid by both employees and firms in the industry.
The industry also supports considerable activity in other sectors…
Service providers will source goods and services from UK-based suppliers, which, in turn, have their own suppliers (some of whom will be based in the UK) and so on. In addition, people employed by the maritime services sector and its suppliers will spend their wages on other goods and services in the UK economy. Such effects are typically referred to as the indirect and induced impacts.
….in total, including indirect and induced effects, it supported 537, 500 jobs and contributed £31.7 billion to UK GDP…
Including direct, indirect and induced impacts, the maritime services sector is estimated to support 537, 500 jobs. Moreover, once these multiplier effects are accounted for, the sector makes a value added contribution of £31.7 billion to UK GDP.
…and generated £8.5 billion for the UK Exchequer
Finally, inclusive of these multiplier impacts, we calculate the maritime service industry’s total contribution to the UK Exchequer was £8.5 billion. or £1 in every £71 of revenue collected.