Marine industry worth £3.7bn to UK economy

The UK’s marine industries contribute £3.7bn to the British economy each year, according to figures released today by the Marine Industries Leadership Council. Comprising more than 5,000 companies, the marine […]

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By Kelvin Ross

The UK’s marine industries contribute £3.7bn to the British economy each year, according to figures released today by the Marine Industries Leadership Council.

Comprising more than 5,000 companies, the marine industries employ around 120,000 people across the UK and have a combined turnover of £10bn.

Minister of State for Business and Enterprise Mark Prisk said: “These figures highlight the importance of the marine industry to the UK economy and to the skills and jobs market.

“It’s an industry worth several billion and the Marine Industries Leadership Council will play a vital role in helping industry to secure more work for the UK.”

Case studies demonstrating the breadth of the UK marine industries were this week presented at a parliamentary event, where offshore renewables were highlighted as presenting the marine industry with an unprecedented growth opportunity.

Trade body RenewableUK recently showed the sector doubling direct UK employment to over 10,000 between 2007 and 2010.

The Marine Industries Leadership Council wants to maximise the potential of its industries and by June will develop a UK growth strategy, building on the country’s globally-recognised engineering skills and capabilities.

The vision for the UK marine sector is that by 2020 it will be renowned globally for the quality and value for money of its high technology products, systems and services.

The UK is already the fourth largest shipbuilder and one of the largest boat builders in Europe, with a worldwide market and reputation for the quality of its marine equipment.

The council also stated that the UK is also leading the world in developing sustainable offshore wind, wave and tidal energy generation.