The British Marine Federation says that after facing one of the toughest trading periods in recent memory, the industry is reporting encouraging signs of improvement, with annual revenue rising by 1.9 percent.
Ian Lucas, minister for business and regulatory reform, visited the Tullet Prebon London International Boat Show, and noted signs of recovery in the U.K. leisure and small commercial marine industry.
International trade figures for the leisure and small commercial marine sector were up 13.6 percent on the previous year, he said.
"In what has been a year of unprecedented challenges for the U.K. leisure and small commercial marine industry, these figures indicate that recovery from the financial crisis has started in earnest. It goes without saying that I am delighted that the industry is returning to a sounder footing," Lucas added.
"The London Boat Show is a wonderful example of how British manufacturing is still a force to be reckoned with," he said.
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The winter boat shows are in full swing this week.
Shows opened Wednesday in New York, Louisville and Minneapolis, with shows in Baltimore, Charlotte and Charleston set to open Thursday and Friday.
Boat shows running through this weekend include Milwaukee, Cincinnati, Stuart, Fla., the Mid-America Boat & Fishing Show in Cleveland and the Saudi International Boat Show.