Why the Mersey’s maritime sector holds the key to the UK’s economic growth

For 300 years Liverpool has been one of the UK’s most vital trade hubs. A major new report makes it clear that the rich shipping heritage of the Liverpool City Region (LCR) has the potential to provide a major boost to the UK’s economic prospects post-Brexit.

Mersey Maritime, working with Maritime UK and the Centre for Economics and Business Research (CEBR), commissioned the new report to determine how important the region’s maritime industry is to the national economy and the LCR. Here, the CEO of Mersey Maritime, Chris Shirling-Rooke, explains why this news is so significant for both the UK and the LCR.

The LCR has a diverse and thriving maritime industry. Working with Maritime UK, we commissioned this special report on the contribution of the maritime sector in the region because we wanted to take a ‘deep dive’ into how important our industry is to the economy of the City Region.

The national ‘State of the Maritime Nation’ report showed the industry to be a massive contributor to the economic wellbeing of the United Kingdom and the findings of this further report have confirmed how significant the Liverpool City Region contribution is.

The numbers speak for themselves: 52,000 jobs supported across the sector, an overall contribution of £4.2 billion to the UK economy in business turnover and some of the most productive workers in the country compared to the national average.

But the good news doesn’t stop there. The forecast for growth is 16% cumulative between 2019 and 2023, which should be a real source of confidence for our members, their staff and everyone who deals with maritime companies in our region.

Whilst the national picture might be uncertain at a political level with the noise around Brexit, it’s clear that maritime businesses here in the Liverpool City Region are getting on with what they do best – creating jobs and business growth locally.

Mersey Maritime will continue to champion our sector and support all those who are making this success story happen and we look forward to the next exciting chapter in the region’s history.