Partner Article

North East exports continue to grow

FIGURES revealed last week show that exports from the region have increased by 5.7% to reach £11.26bn for the year.

The statistics released by HM Revenue and Customs (HMRC) for the third quarter of 2010 show that the total value of North East exports was £2.976bn, just slightly behind the revised figure for the second quarter of £2.977bn and representing the third highest quarterly value ever.

The total was also 25% higher than that recorded in the third quarter of 2009.

Ian Williams, One North East Director of Business and Industry, said: “It is good to see North East businesses exporting more goods overseas and returning to the levels we were regularly seeing before the recession.

The importance of our export markets to our economic welfare can not be understated. “

“Building on these positive figures and increasing export confidence and strength will help underpin our economic growth during the remainder of 2010 and into 2011.”

The USA remains the largest single market for North East goods with a 12-month export value of £1.76bn,

Exports of Machinery and Transport Equipment from the region have grown by £2bn or 56% over the past 12 months, with Road Vehicles, Power Generating Machinery, Electrical Machinery and other Specialised Machinery showing strong growth.

David Coppock, UK Trade & Investment (UKTI) International Trade Director said: “These latest figures confirm the upward trend and are to be welcomed. But we cannot rest on our laurels, there is still more to be done and plenty of opportunities for North East firms to do business overseas.”

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