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British marine industry experiences export surge

by Media Services on 7 Jan 2014
London Boat Show British Marine Federation
British yacht and leisure boat builders saw a surge in demand from overseas buyers last year, helping the wider UK leisure marine industry to post revenues of £2.9bn, according to the British Marine Federation (BMF).

Sales of boats made in the UK destined for international clients rose 7.9 percent in the 12 months ending April 2013, swinging from an 8.3 percent drop a year earlier, states the BMF. The leisure marine sector supports 31,000 jobs in the U.K.
Revenues in the wider industry – from the sale of superyachts to the hire of pleasure craft and canoes – advanced 1.7 percent over the same period. Trade with Europe and North America was particularly robust and grew by nearly 10 percent to each region, the BMF said.

However, there are also signs of a more recent recovery in domestic demand, with 43 percent of companies experiencing a heavier workload from British clients in the six months to the end of November, compared with a year earlier.

In addition, 38 percent of firms have seen an increase in the value of domestic orders. The two trends are at their 'most positive' since before the recession, said the BMF.

'The leisure marine industry is in good shape going into 2014,' said Howard Pridding, the federation’s chief executive at the recent London Boat Show. 'Having exported its way back to growth and increased the delivery of goods and services to international markets to over 1 billion pounds last year, the sector is now poised to capitalize on the improving domestic economy. UK boat building is a manufacturing success story with a worldwide reputation, and the London Boat Show this week is a great way to showcase this expertise while also marking the start of a new chapter for the industry.'

More at www.britishmarine.co.uk

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