British boats set sail for yacht show and round the world race

A flotilla of British yachts moored at the Monaco Yacht Show today (Wednesday 27 September) to promote the best of home grown talent.

International Trade Minister, Mark Garnier, will be in attendance and meeting some of the 90 companies steering the success of maritime industry on a global scale. He will meet a range of UK exhibitors including bespoke yacht manufacturers, Pendennis Shipyard, and brokers and yacht management firm, Burgess Yachts.

The UK’s superyacht industry contributed £450 million to the UK economy last year, and separately, the maritime sector overall contributed £37.4 billon to economy in 2015*. A new report by Superyacht UK  found that exports in the sector have grown at their fastest rate for seven years, with increasing demand from outside of the EU.

In a further boost for the industry, the Department for International Trade (DIT) has arranged for 10 UK companies to attend the show and push their products to international clients and buyers. The trade mission will allow them to grow their export potential for their luxury goods and services.

The Minister will end his visit in Uruguay where he will support the first stop for Clipper Round the World Yacht Race. The race launched at the historic Albert Dock in Liverpool for the first time earlier this year and includes a British team led by former Olympic athletes.

 International Trade Minister, Mark Garnier, said: “As the Monaco Yacht Show starts today, UK businesses are sailing ahead with their world –renowned skills and expertise. We’re a global player in the marine engineering and manufacturing sector and provide boats for some of the biggest films in the world.

“As an international economic department, we are supporting this sector by helping new and existing exporters realise their global potential through tailored trade missions and a team of International Trade Advisors.”

 Peter Brown, Chairman of Superyacht UK, added: “We are delighted to be welcoming UK Trade Minister Mark Garnier to this year’s Monaco Yacht Show. His presence at this very important event for the global superyacht industry really does champion the best of British. He will be meeting a variety of established and innovative industry players, who together span a UK sector which now generates a record £615million towards the national economy.”

In 2015, France was the UK’s third largest trading and exporting partner, with transport and travel among the top five UK exports to France. The Minister is also travelling to Uruguay to further champion the UK’s reputation as a leading maritime nation.

He will meet with crew of the GREAT Clipper yacht, to mark the arrival of the Clipper Round the World Yacht Race in Uruguay. For the first time ever, this global race for more than 700 amateur sailors will visit Uruguay and the port of Punta Del Este.

He will also meet with Uruguay’s Foreign Minister and Minister of Economy and Finance to hear about their future ambitions and trade opportunities. Bilateral trade in goods and services between Uruguay and the UK totalled £344m in 201, up 54.3% from 2014.

Key statistics:

The top five UK services exported to France in 2015 were:

• Financial (38.4% of all UK services exported to France)
• Other business services (17.8%)
• Transportation (12.9%)
• Travel (10.5%)
• Telecommunications, computer and information services (7.3%)

The top five UK goods exported to Uruguay in 2016 were:

• Beverages, spirits and vinegar (27.7% of all UK goods exported to Uruguay)
• Mineral fuels or oils, products of their distillation (22.9%)
• Pharmaceutical products (15.1%)
• Machinery and mechanical appliances (7.7%)
• Essential oils and resinoids; perfumery (5.4%)