UK Ports Bring £9.7 billion of direct value to the UK economy
New figures published today by the ports industry reveal the hidden scale of the industry across the UK. As well as being key trading gateways – handling 95% of UK trade – ports are the foundation of the entire marine economy and are increasingly supporting other types of valuable economic activity, from leisure to fishing, offshore energy and marine aggregates.
The research was commissioned by the British Ports Association (BPA) and UK Major Ports Group (UKMPG) via Maritime UK and undertaken by the Centre for Economics & Business Research (CEBR).
British Ports Association Chairman and Chief Executive of the Port of Blyth, Martin Lawlor, said;
“Ports are the foundation of the entire marine economy – whether it is leisure, fishing, offshore energy, marine aggregates or anything else that uses the seas around this island – it matters that the industry continues to deliver.
Unlike some parts of the world, UK ports do all of this at no cost to the taxpayer. Last year we delivered £5.3bn to the exchequer and supporting £46 billion of GVA. That is an incredible achievement: 20% higher than 2010 and forecast to grow another 15% in the next five years.
Ports are delivering jobs, investment and prosperity – but that is no accident. If we are to continue to deliver, we cannot stand still, the world is constantly changing and we must constantly change with it and ensure we have a business environment that continues to support success and a world class ports industry.”
UKMPG Chairman and Chief Executive Officer of Forth Ports, Charles Hammond, said:
“Today’s report shows the hugely significant economic impact that the ports sector delivers. But the sector is ambitious to do more, growing this value further.
Ports themselves will continue to improve productivity and develop the digital platforms of tomorrow. We will work through any near term disruption But realising the full potential of the sector for the UK requires partnership with Government – for better development rules, improved road and rail links and to embed trade as an enduring priority across Government. Ports and their investors are ready to play their part.”
Source: British Ports Association