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UK Marine Sector 'Exports Its Way Back To Growth'

18th January 2014
UK Marine Sector 'Exports Its Way Back To Growth'

#LondonBoatShow - The UK's domestic boat sales market is heading back towards pre-recession levels, according to marine leisure industry body the British Marine Federation.

Releasing its latest data to coincide with last week's London Boat Show, the BMF points out that the marine sector is now in a "bullish mood" at home, thanks to the support of a strong export market.

A whopping 7.7% increase in overseas trade in 2012/13 - primarily to the continent and the United States - helped drive overall revenue up by 1.7% for the same period, for a total of almost £3 billion.

The BMF also cites strong demand for boats manufactured in the UK, and forecasts for builds and sales are up, with almost half of companies across the reporting better business.

Indeed, the federation's figures show that 48% of leisure marine businesses increased turnover between May and November last year.

BMF chief executive Howard Pridding said the federation is "confident that 2014 will welcome a new period of sustained growth for the sector" that has "exported its way back into growth".

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