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Ports & Logistics

Liverpool is 'stand out' º£½ÇÊÓÆµ port region - and will be vital to economy after Brexit, report reveals

It is the º£½ÇÊÓÆµ's "stand out region", it's been revealed            

Liverpool's shipping heritage could become vital to the entire country's economy after Brexit, it's been revealed(Image: Peel Ports)

A new report has revealed Liverpool is the "stand out region" when it comes to the º£½ÇÊÓÆµ maritime economy - and will be crucial to the º£½ÇÊÓÆµ economy after Brexit.

Led by Mersey Maritime, the report showed the City Region could provide a "major boost" to the º£½ÇÊÓÆµ's economic prospects after leaving the EU - and that the region's sector drove around £2bn in domestic output through business turnover in 2017.

The report, commissioned in partnership with Maritime º£½ÇÊÓÆµ and the Centre for Economics and Business Research (CEBR), also found the sector produced £650m in GVA and 7,899 jobs in the Liverpool City Region (LCR) in 2017.

That made it the º£½ÇÊÓÆµ’s "stand out region" compared with a national report published last month by Maritime º£½ÇÊÓÆµ.

In addition, the region outperformed the º£½ÇÊÓÆµ average GVA per employee - in 2017, LCR maritime productivity stood at £81,461, while the º£½ÇÊÓÆµ average sat at £54,330.

Inside the Peel Ports Liverpool site

 

Compared to 2010, LCR’s domestic output levels across the sector have grown by 118 per cent – approximately £1bn.

Chris Shirling-Rooke, CEO of Mersey Maritime, said: “The national report showed the industry to be a massive contributor to the economic wellbeing of the º£½ÇÊÓÆµ and the findings of this new report have confirmed how significant the LCR contribution is within that.

"It’s even more remarkable considering that they exclude non-maritime logistics operations. These positive findings are a real vote of confidence in the dynamism and hard work of the people Mersey Maritime deal with on a day to day basis, our members."