Scotland’s £10 billion maritime sector on crest of a wave

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Scotland’s £10 billion maritime sector on crest of a wave

Scotland’s maritime sector directly supports 41,000 jobs and generates nearly £10 billion in annual turnover and is predicted to rise further, according to a new study.

The report by the Centre for Economics and Business Research (CEBR), commissioned by Maritime UK and the Scottish Maritime Cluster, also estimates that indirectly the sector helps support a total of £19.5bn in turnover and about 155,000 jobs.

The research indicates that Scottish maritime sector turnover and GVA are set to grow at a compounded annual growth rate of 2.6 per cent over the period 2017 to 2023. Picture: Contributed

The research indicates that Scottish maritime sector turnover and GVA are set to grow at a compounded annual growth rate of 2.6 per cent over the period 2017 to 2023. Picture: Contributed

It shows that the marine engineering and scientific industry is the largest area within the Scottish maritime sector in terms of economic activity, contributing £2.5bn in gross value added (GVA) and directly supporting some 29,000 jobs, in 2017.

Chief executive of the UK Chamber of Shipping, Bob Sanguinetti, said: “This report highlights the importance of the Scottish maritime sector to the Scottish economy and shows just how well it is doing . . . . .

. . . . . continue reading the article on The Scotsman website

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