13 September 2017
The Centre for Economics and Business Research (Cebr) having been commissioned by the BPA and Maritime UK to quantify the economic contribution of the ports industry, have released their findings in a new report entitled
The report (attached below) quantifys both the direct and aggregate economic impact of port activities on the UK economy, including Business turnover, GVA, Employment and Compensation of Employees.
Some key findings are listed below:
In 2015 the ports industry directly contributed:
- £22.6 billion in business turnover
- £7.6 billion in GVA
- 101,000 jobs for UK employees in 2015.
- This respectively equates to 57% of turnover, 52% of GVA and 50% of employment directly supported by the wider UK Maritime sector in 2015 and an increase from 2010 figures.
The ports industry also aggregate / indirectly supported:
- £23.8 billion of GVA – (For every £1 in GVA directly contributed by ports a further £2.15 in GVA is generated across the UK economy)
- £53.7 billion in turnover
- 695,200 jobs
- £8.4 billion through the compensation
UK Exchequer contributions
The report also shows that the ports industry helps to raise millions of pounds each year to the UK Exchequer and makes a sizeable contribution to UK trade through exports of goods and services.
With the industry contributing a total of £1.5 billion in tax revenues and being estimated to have exported £9.1 billion of goods and services in 2015.
This report is produced collectively with Maritime UK and forms part of seven reports produced, including the wider “Maritime Sector Report” also attached.