Growth in sales and employment
British Marine, the federation of the UK marine and small craft industries, has published its statistics for the period 2021-2022. These are based on public government data and data collected from the association's members.
Industry revenues over the period are estimated at £4.23 billion, representing growth of +25% on the previous year or +6.5% on the 2019-2020 pre-pandemic period. The contribution to UK GDP is estimated at £1.57 billion, up a strong 27%.
Employment in the sector is also buoyant. Full-time equivalents are up 8% to 38,100. Apprenticeships are also on a positive trend, up 36% from 2019-2020.
Exports and domestic markets on the rise
Indicators are positive for both export boat sales and domestic market activity. Exports rose by 13% to £1.22 billion. Sailboats, up 40% to £116 million, and RIBs, up 48%, were the most dynamic, although the majority of exports were concentrated on powerboats, at £574 million.
Demand from British yachtsmen boosted imports, which rose by 8%. Revenues from sales of new and used boats rose by 32%, and those for equipment by 34%
Caution for 2022-23
Lesley Robinson, head of British Marine, is delighted with the figures, while remaining cautious about the context in 2022-23: "It's encouraging to see that the marine industry has made a strong post-pandemic recovery, thriving in both the domestic and international markets and underlining the sector's contribution to the UK economy. These results show that the industry is in a strong position as we head into uncertain economic times in 2022-23."
