UK GDP could be boosted by restoring the UK’s position as a global leader in logistics, Oxford Economics finds.
Estimations suggest if the UK rises to the top global rankings by 2025 this could add £7.9 billion to GDP
(in today’s prices). This would translate to an average increase of £160 in household disposal income.
Taxes generated from the increased economic activity could also finance the salaries of more than 40,000 nurses or secondary school teachers in the UK.
Logistics forms the backbone of modern commerce and trade, spanning road, rail, water and air – ever innovating to become increasingly efficient, using technology and data to integrate processes, systems and transport modes, and to decarbonise fleets and warehouses. Logistics is a sector creating opportunities across the UK and linking the UK to the global trade network.
As it stands the UK’s position has weakened in the last decade, from being joint 4th in 2014 to now joint 19th in 2023.
Oxford Economics estimate if the UK return to the top-10 by 2025, this would boost productivity and GDP in 2030 by £3.9 billion. This would be consistent with an increase in average household disposal income of £80 in 2030.
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