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It estimates the sector represents 5% of the British economy valued at £76.9bn.
Homeland Security Research, an industry analysis firm, estimates the sector will be worth an astounding $107.3bn by 2020.
It estimates the sector is worth about £12bn but says that could reach £30bn within 15 years as UK and EU initiatives gather pace.
After all, universities are not ring-fenced and the Institute of Fiscal Studies estimates the sector could face cuts of up to 33%.
"Rather than acting as a drag on the economy, as suggested by recent GDP estimates, the sector is continuing to act as an important driving force behind the ongoing UK economic upturn".
Despite a recent distribution shortfall that could affect 2005 earnings estimates, the sector will benefit from low inventory and margin leverage.
Similar(54)
It is estimated the sector has two million customers with loans worth £2bn.
A report for the industry body Oil and Gas UK last year estimated the sector is worth about £35bn to the UK economy.
Please note, that the effect in general depends on the sectors (i.e. business lines and countries) of the portfolio as well as the data used for estimating the sector distributions.
The data used to estimate the sector distributions are monthly PD values over 10 years, which are estimated via a Merton type model (see Merton (1974)) from marked data (i.e. stock prices and liabilities) for over 20,000 corporations and aggregated on sector level.
Aquaculture tax multiplier and the "aquaculture ratio between the net foreign exchange earning" and the "whole economy net foreign exchange earning" can be used to estimate the sector's contribution to food utilization, the third dimension of food security.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com