London, UK: Logistics UK predicts that the sector could boost UK GDP by up to £7.9bn per year by 2030, given “appropriate investment, policy changes and the right partnerships with government”.
Logistics UK’s says it is “cautiously optimistic” for 2024 and beyond, according to its latest annual Logistics Report. One of the key indicators is that 38% of respondents to Logistics UK’s industry survey anticipate economic improvement for 2024, compared with 2023.
Logistics UK points out that, the industry generates annual revenues of £1.3tn and future growth is possible with the right support.
Logistics UK chief executive David Wells said: “With appropriate investment, policy changes and the right partnerships with government, it is predicted that the sector could provide a boost of up to £7.9 bn per year to the UK’s GDP in productivity gains by 2030.”
“It is clear that our industry is still operating in challenging conditions, but the report paints a picture of a sector which is consolidating and taking steps to prepare so it can exploit the opportunities that will present themselves when the overall economy improves.
“The £185bn GVA (Gross Value Added) contribution which our sector made in 2022 (the latest official figures available) is in line with the 2021 figure of £160.2bn when other factors are taken into account, so it is too soon to say the economy is returning to growth.”
The Logistics Report combines the latest official statistics, insight from industry experts and the findings of Logistics UK’s industry survey which canvassed 500 of its members to gauge industry sentiment.
