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PRODUCT NEWS Last modified on April 20, 2011

BAE contributes €3.7 billion to the UK economy

A new independent report has outlined the value of BAE Systems and its 9,000 suppliers’ advanced manufacturing and engineering operations to the UK’s economy.

A new independent report has outlined the value of BAE Systems and its 9,000 suppliers’ advanced manufacturing and engineering operations to the UK’s economy.

Including its own staff and through its supply chain and induced employment, BAE Systems was found to support a total of 125,000 jobs throughout the UK in 2009, according to the report produced by economic research companies Oxford Economics and GeoEconomics.

It also reveals that BAE made a direct contribution to the UK’s Gross Domestic Production of €3.7 billion.

The report, ‘The Economic Contribution of BAE Systems to the UK in 2009’ identified that BAE Systems’ 42,360 employees were 85% more productive than the national average, each contributing €90,000 to the UK’s economy in 2009, compared to a national average of €48,000.

The company’s strategy of investing in its people was also highlighted – in 2009, it provided more than 97,000 days of training for its UK employees as well as providing large-scale support for education and training projects in the wider community.

Ian King, chief executive of BAE Systems said: "This report demonstrates the economic and social contribution made by thousands of skilled workers in the UK’s manufacturing and engineering sectors. We must continue to invest to build and maintain our nation’s competitive advantage.”

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