Member Article

Huge export boost for North East

Statistics released by HM Revenue & Customs this week show a huge leap in exports from North East England, with the region exporting more than £1bn more than it did the previous year. The total value of exports from the region rose by 13% from £8.5bn in 2006 to £9.5bn in 2007, which has bucked the national trend with total UK exports falling 10% from £244bn to £219bn.

David Coppock, international trade director for UK Trade and Investment (UKTI) in the North East said: “Clearly 2007 was a very tough year for exporters around the UK and against that background the increase in export value recorded in the North East reflects huge credit on those companies in the region doing international business.”

The region’s continued growth in the automotive and process industry sectors has been cited as a major factor in the rise in exports. The best performing sectors in 2007 were road vehicles (up 38% on 2006) and medicinal and pharmaceutical products (up 45%).

Ian Williams, One NorthEast director for business and industry, said: “This report is further evidence of the growing strength of the North East economy, which has outstripped UK average annual growth for the past three years. “The sectors that provide the most exports for the region are in automotive, biotech and pharmaceutical with all performing exceptionally well. The recent fantastic announcement that Nissan is to create a further 800 jobs is further proof that the North East is performing well. Today’s HMRC figures reflect the buoyancy of the regional economy.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .