UK marine economy contributes £50bn to annual GDP
Aggregates dredging revenues to the Crown Estate contribute to the UK's GDP.
The Crown Estate in the UK, which manages the hereditary possessions of the Sovereign and delivered £ 211.4m of revenue directly to the Exchequer in the last tax year, has published its report titled Socio-economic indicators of marine-related activities in the UK economy.
The Crown's Marine Estate includes more than 55% of the UK's foreshore, tidal riverbeds and almost all the seabed within the 12 nautical mile limit, including rights to all minerals except for hydrocarbons.
The marine economy contributes nearly £50 billion to the UK's annual GDP, or some 6 to 6.8% 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 and others, such as marine renewables, have grown. For example, between 2003 and 2005 the use of marine renewables increased 22% 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 some 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 426m tons each year, compared to just 2.2m tons carried by air freight. The UK also relies on oil and gas for three quarters of its primary energy demand. Last year oil production from UK offshore areas satisfied domestic needs while gas produced indigenously met three quarters of UK 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 added, '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.'
The report is available online at www.thecrownestate.co.uk/socio_economic_uk_marine.pdf
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