BAE Systems' UK economy contribution revealed

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A report from Oxford Economics has revealed BAE Systems' contribution to the UK's economic prosperity, accounting for 1% of UK exports and 0.46% of GDP.

According to 'The Impact of BAE Systems on the UK Economy' BAE Systems contributes £7.9 billion to the UK economy, comprising direct, supply chain and workforce consumer spend contributions.

It is also described as one of the most productive companies in the UK, with labour productivity of £95,000 per worker, more than twice the national average.

And it exports £3.9 billion of goods and services.

BAE Systems' chairman, Sir Roger Carr, said: "Our business and the many thousands of companies we work with across our supply chain are driving prosperity throughout the UK, providing valuable jobs and training. As one of the UK's leading providers of quality apprenticeships, we have extended our commitment further, pledging to employ 2,000 apprentices by 2018.

"Our employees are incredibly proud to play a key role in protecting and serving the Armed Forces that protect and serve us. In doing so, BAE Systems makes a material contribution to the economic health of the country as well as to the safety of the nation."