THE buoyant North-East marine industry is defying an economic slowdown which has hit most other businesses, according to new figures.

Revenues in the region's leisure marine industry increased by 9.1 per cent over the past year, according to statistics published by the British Marine Federation last night.

The growth took 2002 revenues to £4.8m, even as the slowdown in the global economy hit many other industries and sectors.

Companies within the marine industry appeared to cope well with the current economic pressures and even marine manufacturers and exporters thrived last year.

John Clarke, chief executive of the British Marine Federation, said the industry was going from strength to strength.

"The rising revenues and strong export figures make it an important industry to the country as a whole," he said.

"The high quality, design and innovation of the country's marine products are renowned the world over, enabling UK operators to achieve consistently good results, even in adverse conditions."

Mr Clarke said he expected the industry would continue to perform well.

He added: "Leisure marine businesses know that in today's economic climate they can't rest on their laurels, so they're working hard to remain enterprising, innovative and competitive.

"Boating and marine-related activities are becoming more and more popular in terms of both employment and pastimes.

"As more people realise how easy it is to get into boating and as many high-profile figures, like Ellen MacArthur and Ben Ainslie, enjoy frequent successes, we can only presume the industry will continue to thrive."