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Maritime trade worth £77.5billion passes through the Solent

Trade worth £77.5billion pounds passes through ports in Southampton & across the Solent, it has been revealed.

The new report also shows that economic output from the Solent maritime sector has increased 14 per cent over a five-year period.

Maritime UK and the Solent LEP released the report, which found that the maritime sector supports 120,000 jobs.

The news was welcomed by David Dingle CBE, chairman of Maritime UK and Carnival UK, who said: “The report released today shows the vital role that maritime already plays in Solent life.

“In the Solent area, the maritime sector contributes at least £5.5bn to economic activity, directly employing just under 36,000 people.

“The employed population of Southampton is 130,600, and this means that those employed in the maritime industry make up 27.5 per cent of the working population in Southampton.

“Across the United Kingdom, including in the Solent, we are seeing fantastic growth and we expect it to continue.

“The Solent plays a unique role in facilitating UK global trade and the importance of the sector will only grow post-Brexit.

“We’re supremely confident that we can play a crucial role in positioning Britain as an outward-looking, global trading maritime nation.

“The Solent and its maritime sector will be critical to that success.

“As the engine of British trade, the maritime sector supports nearly one million jobs, contributes tens of billions to the UK GDP and drives exports as well as inward investment. Half a trillion pounds worth of goods passes through UK ports each year.”

Steve Wyeth, Director of SDW commented “the local marine & shipping industry here in Southampton & across the South is vital for the UK economy, and this article backs this up. With so many employees and their families reliant on the sector for providing jobs, it is key that we maintain Southampton’s position as a leading maritime port”

Source: Daily Echo