techUK news and views
05 May 2023

2023 JEDHub Annual Economic Report published

The second Annual Economic Report continues to support the JEDHub's efforts in quantifying the contribution of the UK defence sector to the wider economy.

The Joint Economic Data Hub (JEDHub) is a collaborative partnership between the UK Defence Solutions Centre and the Ministry of Defence. The Annual Economic Report, published yesterday, highlights a number of insights. These include the important contribution international business makes supporting UK defence turnover (around 40% of defence turnover in surveyed companies came from international sources in 2021); high average wages in the sector, including an 8.2% wage growth since 2020; Defence activity showed resilience during the COVID-19 pandemic, with defence turnover growing by 2.1% in the surveyed companies and that approximately 130,000 indirect jobs were supported by the 11 DGP companies in 2021.

The report, based on the findings of the 2022 JEDHub Industry Survey, covers themes including:

  • International and domestic turnover;
  • Regional and national employment;
  • Supply chains;
  • Demographics and skills;
  • Defence productivity.

UK Defence Solutions Centre (UKDSC) CEO Samira Braund MBA commented on the publication of the report:

“As the CEO of the UK Defence Solutions Centre, host of the Joint Economic Data Hub, I am excited by the publication of the second Annual Economic Report. The JEDHub team, comprising of UKDSC and MOD staff, have delivered a report with key economic insights based on impartial, objective and verifiable data, with some new and important insights building upon on last year's report. Through these reports, we can begin to evaluate the beneficial impact of the defence sector on the wider UK economy.”

You can access the full report here.

 

Fred Sugden

Fred Sugden

Associate Director, Defence and National Security, techUK

 

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