Press Release
THE CROWN ESTATE PUBLISHES REPORT REVEALING CONTRIBUTION OF MARINE BUSINESS TO UK ECONOMY
6 November 2008
- Marine economy contributing £50 billion to UK GDP
- UK leading the world in production of offshore wind energy
The Crown Estate has today announced the publication of its report: ‘Socio-economic indicators of marine-related activities in the UK economy’.
The first of its kind, providing a comprehensive assessment of the contribution of marine businesses to the UK economy, the report was researched and written in conjunction with Associated British Ports and Oil & Gas UK.
The marine economy contributes nearly £50 billion to the UK’s annual GDP – around 6 to 6.8 per cent of the overall economy. The sector provides 890,000 jobs in areas as diverse as shipping, research, oil and gas production and renewable energy.
This area of the economy has undergone massive changes in recent years; as old industries such as shipbuilding have declined, others, such as marine renewables, have grown. For example, between 2003 and 2005 the use of marine renewables increased 22 per cent per year. In the last few weeks the UK has become the global leader for offshore wind energy production and by 2011 the installed UK capacity will be 1,645 MW (enough to power around 912,800 houses at the current rate of usage).
However, more traditional industries are also thriving in the UK marine economy. Ships are still the main carrier of freight, transporting 426 million tonnes each year, compared to just 2.2 million carried by air freight. The UK also relies on oil and gas for three quarters of its primary energy demand; in 2007 oil production from UK offshore areas satisfied our domestic needs while gas produced indigenously met three quarters of the UK’s demand. Indeed the UK was the thirteenth largest oil and gas producer in the world.
Rob Hastings, Director of Marine Estates at The Crown Estate, said: “This report highlights the substantial, and ever-increasing, contribution of the marine economy to UK PLC. At a time when both the government and the press are showing renewed interest in marine issues, this report demonstrates the multitude of ways the marine economy contributes to British life.”
Peter Barham, Sustainable Development Manager for Associated British Ports and Chairman of the Seabed User and Developer Group, said: “This report is essential reading for anyone looking to understand the importance and value of marine industries to both the UK economy and the environment. In addition, it is a valuable document for anyone who needs to communicate the importance and complexity of reconciling environmental objectives and economic growth.”
Please follow the link to download the report 'Socio-economic indicators of marine-related activities in the UK economy':
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