The figures produced by British Marine show a 1.7% growth in revenue, with the marine industry contributing more than £1.1bn of Gross Value Added (GVA) to the UK economy and supporting more than 33,000 direct employees.
Leisure marine exports in 2018 surpassed £1bn for the first time since 2013, an increase of 16% compared to 2017.
Half of the exports went to the Eurozone and wider EU, however the USA is a growing sector accounting for 25% of British exports, an increase of 30%. In addition, Asia has seen growth of 20% and South America 39%.
“These latest figures illustrate that the British boating sector has continued to prosper, despite challenging conditions and the ongoing uncertainty about Brexit,” said Lesley Robinson, BM CEO.
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