United Kingdom: Shipping Market 2024

Shipping Market Size in the UK

The UK shipping market soared to $X in 2022, rising by X% against the previous year. In general, consumption, however, recorded a noticeable descent. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Shipping Production in the UK

In value terms, shipping production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Shipping Exports

Exports from the UK

In 2022, overseas shipments of ships, vessels, ferry-boats for the transport of persons increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, shipping exports surged to $X in 2022. In general, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iceland (X units), Australia (X units) and Germany (X units) were the main destinations of shipping exports from the UK, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iceland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for ships, vessels, ferry-boats for the transport of persons exports from the UK, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Germany (X.0% per year).

Export Prices by Country

The average shipping export price stood at $X,836 per unit in 2022, jumping by X% against the previous year. In general, the export price recorded a tangible expansion. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X,364 per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($X,277 per unit), while the average price for exports to Falkland Islands (Malvinas) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X.0%), while the prices for the other major destinations experienced more modest paces of growth.

Shipping Imports

Imports into the UK

In 2022, imports of ships, vessels, ferry-boats for the transport of persons into the UK surged to X units, jumping by X% against the year before. Over the period under review, imports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, shipping imports soared to $X in 2022. In general, imports, however, recorded a sharp downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Slovenia (X units), India (X units) and Japan (X units) were the main suppliers of shipping imports to the UK, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), Italy ($X) and Poland ($X) appeared to be the largest shipping suppliers to the UK, together accounting for X% of total imports. The Netherlands, Slovenia, India, China, Greece, Hong Kong SAR, Germany, Latvia, Japan and Denmark lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average shipping import price amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a dramatic setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X,438 per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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