Industry weakens, but still firm says BMF
29% expect the next six months to be good/excellent
STATISTICS: According to research from the British Marine Federation (BMF), there has been a slight reduction in trends for the UK leisure, superyacht and small commercial marine industry, reflecting the weak economy.
But the BMF says its recent Key Performance Indicators report 2010/11 and Marine Industry Trends report November 2011 show the UK industry is still holding firm, with the following headlines:
• Total revenue of the UK leisure, superyacht & small commercial marine industry was £2.901bn (-2.1% from 2009/10).
• Value added contribution, the principal measure of national economic benefit, was £906.1m, 31.2% of revenue (-3.0% from 2009/10).
• International trade was £1.073 billion, 37% of the total revenue (-6.6% from 2009/10)
• Full time equivalent (FTE) UK employees c. 31,300 across the industry (-2.7% from 2009/10).
• UK businesses c. 4,200.
The latest Marine Industry Trends survey (May-November 2011) shows there has been a slight decrease in business performance trends from the last survey, most notably in the export market. Headlines include:
• Level of marine business activity over the last six months: reported to have increased for 31% of members while 31% report it has decreased (net balance of 0%).
• Future business prospects: 29% state they expect the next six months to be good/excellent, 49% believe it will be OK and 22% poor.
“While times are undoubtedly still hard, the marine industry is not cowed, and continues to innovate and develop world-leading products and services,” said Rob Stevens, chief executive of the BMF.
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