Cebr Reports - The economic contribution of the UK shipping industry and wider maritime
The Centre for Economics and Business Research (Cebr) was commissioned by Maritime UK to quantify the economic contribution of the shipping industry. The report forms one of seven reports, all available below, which assess the contribution of the Maritime sector as a whole, at industry-level, in Scotland, and in the Solent LEP region. All the reports were published during LISW.
Cebr found that for the maritime sector as a whole once aggregates impact were taken into consideration, benefited the wider economy by £2.59 for every £1 generated. exported some £12 billion worth of goods and services worldwide, brought in £4.7 billion in tax revenue and generated £37.4 billion in gross value added.
Key findings for the shipping industry:
- The shipping industry makes a substantive macroeconomic contribution to the UK through business
turnover, Gross Value Added (GVA), employment and through the compensation of employees.
- It is
estimated that the shipping industry directly supported just over £13.9 billion in business turnover,
£4.3 billion in GVA and 152,600 jobs (with 51,000 jobs for UK employees) in 2015.
- Including aggregate economic impacts through the industry supply chains and induced effects on expenditures, it is estimated that the shipping industry helped to support a total of £16.1 billion of GVA in 2015. This implies that, for every £1 in GVA directly contributed by the industry, a further £2.74 in GVA is generated across the UK economy.
- The shipping industry also helps to raise millions of pounds each year to the UK Exchequer and makes a
sizeable contribution to UK trade through exports of services. The industry contributed an estimated total of just under £600 million in tax revenues in 2015, spread across Corporation Tax, Income Tax, National Insurance Contributions (NICs) and Business Rates, as well as £5.1 billion of exports.
All reports are available below and for any further details please contact Robert Merrylees, firstname.lastname@example.org