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ECSA highlights shipping’s economic benefit to EU

ECSA highlights shipping’s economic benefit to EU
To start European Shipping Week the European Community Shipowners’ Associations (ECSA) has released findings of a latest study showing that the shipping industry in the European Union directly employed 640,000 people and supported a EUR57bn ($60.4bn) contribution to GDP in 2015.

Adding in supply chain and worker spending multiplier impacts, the shipping industry’s total employment contribution rises to 2.1m people and its total GDP contribution to an estimated EUR140bn in 2015, according to findings of an update ECSA commissioned from Oxford Economics.

Furthermore, productivity in the EU shipping industry at EUR89,000 per worker in 2015 remains above the EU average, as well as that of sectors such as manufacturing and healthcare.

“The latest Oxford Economics figures underline that shipping remains a solid contributor to the European agenda of jobs and growth," said ECSA secretary general Patrick Verhoeven, “Compared to 2013 figures, we see a modest increase in both employment and value-added figures.”

The Oxford Economics report finds that around 80% of direct employment occurs at sea. Officers account for an estimated 42% of positions at sea, and ratings 58%. 40% of the 516,000 seafarers employed in the EU shipping industry are estimated to be EU/EEA nationals, a stable figure versus 2013, which Verhoeven called “a positive sign, given the challenging market circumstances most European shipping companies still operate in.”

Separately, the findings of a study on EU Shipping Competitiveness commissioned by ECSA from Monitor Deloitte to benchmark the overall EU policy framework for shipping compared to five other international shipping centres – Singapore, Hong Kong, Dubai, Shanghai and Vancouver – will also be discussed during meetings in Brussels this week.

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