ECSA: Shipping Remains a Solid Contributor to EU

MOL The shipping industrys total employment contribution has increased to 2.1 million people while the total GDP contribution is estimated to have been EUR 140 billion in 2015. The European Community Shipowners Associations (ECSA) update on the economic value of the EU shipping industry, commissioned from Oxford Economics, shows that the sector directly employed 640,000 people and supported an EUR 57 billion contribution to GDP in 2015. ECSAs report further indicates that, at EUR 89,000 per worker in 2015, productivity in the EU shipping industry remains above the EU average. The latest Oxford Economics figures underline that shipping remains a solid contributor to the European agenda of jobs and growth, Patrick Verhoeven, ECSA Secretary General, said. Compared to 2013 figures, we see a modest increase in both employment and value-added figures. The Oxford Economics report finds that around four-fifths 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. Although it is an estimated figure, the percentage of EU/EEA seafarers appears to remain fairly stable, Verhoeven said, adding that this is a positive sign, given the challenging market circumstances most European shipping companies still operate in.