Friday, December 13, 2013

News: Regional export values increase

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Figures released by HM Revenue & Customs have revealed that the total regional export values for Yorkshire are on the increase.

The region's export values reached £4.34 billion in the third quarter of 2013, an increase on the £4.14 billion achieved in the same period last year.

Although slightly down on the £4.43 billion achieved in the second quarter, the region's export values have been on an upward trend since the start of 2012.

Export experts believe that demand is coming from both inside and outside of Europe.

Audit, accounting and business services firm, BDO believes that demand for Yorkshire exports is increasing, particularly beyond the Eurozone, with rest of the world sales up 11%. More promisingly still, emerging markets sales rose sharply, with exports to Africa up 45% and Asia up 47% – albeit from a low base.

Mark Robson, regional director at UKTI, said: "Although the region has experienced mixed fortunes this quarter, it is encouraging to see that we are holding our own and are one of only four English regions – and the only one in the north – to have enjoyed export growth.

"It is clear that, despite some uncertainty, local businesses are making the most of the international opportunities available, particularly in established markets like the EU and emerging economies such as Eastern Europe and Latin America.

"The region has so much to offer and I am confident that our businesses will continue to seize on export opportunities and fulfil their global potential."

Steve Beahan, partner at the Sheffield office of Irwin Mitchell, added: "Small and medium-sized businesses have a big role to play in export success and we think they can do even more.

"Recent initiatives such as Export Week play a big part highlighting and encouraging companies to explore all of the opportunities that are available to them including which markets are most suitable, how they can access finance and how to seek out new trade partners.

"Getting the right advice is also important and seeking good quality timely legal advice from firms which understand their sector is essential."

UKTI website
Irwin Mitchell website

Images: UKTI

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