Study Reveals Economic Impact of European Shipping Industry – INFOGRAPHIC
The European delivery trade helps employment of two.2 million individuals and general contributes €147 billion to EU financial system, in line with the outcomes of a Oxford Economics examine launched immediately by the European Community Shipowners’ Associations (ECSA).
The examine, titled “The economic value of the EU shipping industry”, appeared to estimate the financial affect of the delivery trade throughout three channels: the direct affect of the delivery trade itself; the oblique affect of delivery companies’ expenditures throughout the EU provide chain; and the affect of spending by workers within the delivery trade and provide chain.
According to the examine, the general contribution – together with all 3 channels – of the European delivery trade to the EU’s GDP in 2013 is estimated to have been €147 billion, together with an estimated €56 billion of which that immediately contributed to EU GDP. The examine notes that for each €1 million the European delivery trade contributes to GDP itself, it creates one other €1.6 million elsewhere within the European financial system.
In phrases of employment, the EU delivery trade immediately employs 615,000 individuals, together with 501,000 jobs primarily based at sea, in line with the examine. The trade immediately employs extra staff than the aviation sector, whereas, between 2004 and 2013, direct employment grew by 25%, the ECSA stated in a press release saying the outcomes of the examine.
Moreover, EU delivery is much extra productive by way of GDP generated per employee than the EU common. Each employee is estimated to have generated €85,000 of GDP, considerably above the EU common of €53,000, in line with the examine.
Overall, the examine stated that the trade helps employment for an estimated 2.2 million individuals each on board vessels and ashore within the wider maritime cluster.
The examine additionally confirmed that final possession or management of 40% of the world’s gross tonnage lies in an EU nations, and rising strongly. Between the beginning of 2005 and the beginning of 2014, the EU-controlled fleet expanded by greater than 74% in tonnage, and by 72% by way of deadweight tonnage, the examine stated.
“Europe controls the world’s largest and most innovative fleet of ships” remarked Patrick Verhoeven, ECSA Secretary General. “This very important fact is often overlooked despite the fact that it plays a key role in the economic impact of our industry on the European economy.”
The examine and its findings had been offered by the ECSA throughout a press convention kicking off European Shipping Week. The theme of this 12 months’s convention is “Charting the route of EU shipping policy: An input to the EU maritime strategy review.”
INFOGRAPHIC
The up to date Oxford Economics examine on the financial worth of the EU delivery trade could be discovered HERE.
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