(nice colour choice for the logo?)
You might remember this from June 2017:
Scotland’ maritime sector, outproduced rUK by a factor of more than 3 times in 2015. A reported for Maritime UK, titled: ‘The economic contribution of the Maritime sector in Scotland’ was published in September 2017 (reference at foot).
The main conclusion is in my headline above. However, here’s some detail from the report:
- In this context, the Maritime sector has been defined as consisting of the Shipping, Ports, Marine and Maritime Business Services industries.
- It is estimated that the Maritime sector directly supported just under £9.3 billion in turnover, £3.6 billion in GVA and 39,300 jobs in Scotland in 2015. This respectively equates to approximately 23% of turnover, 25% of GVA and 21% of employment directly supported by the UK-wide Maritime sector in 2015. Scotland therefore accounted for approximately one-fifth of the UK Maritime sector by these measures of economic activity (and one-quarter in the case of GVA).
- With a large proportion of employment in the Marine Oil and Gas activities concentrated in Scotland, the Marine industry is the largest constituent industry within the Scottish Maritime sector in terms of economic activity, directly contributing £2.9 billion in GVA and directly supporting around 30,900 jobs in 2015. This compares to £440 million and £200 million in GVA directly contributed by the Shipping and Ports industries respectively in Scotland.
- Not only this, employees in the Scottish Maritime sector are found to be highly productive in the six years considered in this study. The average job is estimated to have contributed around £91,600 in GVA in 2015; this compares favourably to productivity in the UK Maritime sector of £77,900 and£48,971 across Scotland in general. There is thus a large proportion of high value jobs in the Scottish Maritime sector.
- By extension of its significant direct contributions to GVA and employment, the Maritime sector in Scotland also helps to raise a significant amount of tax revenue each year for the UK Exchequer. The Maritime sector contributed an estimated total of £1.1 billion in tax revenues in 2015, spread across VAT, Corporation Tax, Income Tax, National Insurance Contributions (NICs) and Business Rates, an increase from just under £850 million in 2010.
- After quantifying the aggregate economic impacts through the industry supply chains and induced effects on expenditures, it is estimated that the Maritime sector in Scotland helped to support a total of £7 billion of GVA in 2015, an increase from £6.5 billion in 2010. This implies that, for every £1 in GVA directly contributed by the Maritime sector in 2015, a total of £1.94 in GVA is generated across the wider Scottish and UK economies.