Shipping of great importance for EU's GDP
During the European Shipping Week, currently taking place in Brussels, the European community shipowners' associations presented the results of a recent update of the Oxford Economics study on the economic value of the EU shipping industry.
According to the study, the overall contribution of the European shipping industry to the EU’s GDP in 2013 is estimated to have been EUR 147 billion. In terms of employment, the industry provided jobs to an estimated 2.2 million people both on board vessels and ashore in the wider maritime cluster. The industry directly employs more workers than the aviation sector, while, between 2004 and 2013, direct employment grew by 25%.
The ultimate ownership or control of 40% of the world’s gross tonnage lies in an EU country and the EU controlled fleet has grown strongly. Between the start of 2005 and the start of 2014, the EU controlled fleet expanded by more than 74% in tonnage, and by 72% in terms of deadweight tonnage.