Signs of Improvement for British Marine Economy.

According to figures released at the Tullett Prebon London International Boat Show, The UK leisure and small commercial marine industry is beginning to show signs of recovery with confidence starting to return.

The industry’s annual statistics for 2008/09, compiled by the British Marine Federation, show that revenue rose by 1.9% during 2008/09 to £3.16 billion.

The real engine of growth during the difficult period of 2008/09 was in international trade, which was up 13.6% on the previous year to £1.248 billion, or 39.5% of the industry’s total revenue.

As could be expected during a global recession, the number of people employed fell 2.5% to circa 34,300.

Rob Stevens, Chief Executive of the British Marine Federation, said:

“The last year has been incredibly difficult for the UK leisure and small commercial marine industry but it is encouraging to see that businesses are starting to feel more confident about the future.

“In particular, the increase in exports is a real vote of confidence in British design, manufacturing and services from customers and businesses around the world. We should be proud of our reputation for excellence. Additionally, boating holidays and leisure based tourism has continued to be strong.”