Shipping Industry Brings $25Bn to UK Economy

The UK shipping industry brings in a remarkable GBP 19 billion (USD 25Bln) to our economy, an increase of 41% from 2010, and directly supports 181,000 jobs, UK Chamber of Shipping said quoting a new report from the Center for Economics and Business Research (Cebr).  

The Chamber, which represents nearly 200 members, and works with Government, parliament and international organisations to champion and protect the industry, welcomed the report.

Chief Executive of the UK Chamber of Shipping, Bob Sanguinetti, said: “We all know what an incredible shipping industry we have in the UK, and now we have the numbers to prove it."

Sanguinetti added: "Bringing in nearly £19 billion to our economy and supporting 181,000 jobs, the shipping industry really is the backbone to communities across the UK. As we leave the EU, it is vital we continue to do all we can to support our seafarers and those that work and support the industry so we can seize the opportunities of the future in areas like green technology, automation and digitization.”  

Maritime Minister Nusrat Ghani said:   “Our maritime industry is the lifeblood of the UK economy – it plays a vital role in our daily lives, keeps things moving 24/7 and supports more than 180,000 jobs.  These figures are clear evidence that the sector is going from strength to strength as we remain steadfast in our ambition to continue our global reputation as a great trading nation."

“Our landmark Maritime 2050 strategy, along with our strong partnerships with industry will help us to ensure this sector continues to flourish for generations to come,” Ghani added.

The new report, commissioned by Maritime UK, outlines the significant economic contribution made to the UK economy from the UK shipping industry.