Monday, December 8, 2014

News: Exports up in Yorkshire & Humber

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Total exports for Yorkshire and the Humber were worth more than £4.34 billion for the third quarter of 2014, up from £4.04 billion in quarter two and £4.18 billion in the first three months of the year.

The latest trade in goods statistics released by HM Revenue & Customs showed that the values are still down for the year-to-date as a whole versus the record highs recorded in 2013 but the region is more or less back on track.

Analysis also reveals gains in the value of exports to North America, including the US; Asia and Oceania; Latin America, Sub-Saharan Africa; and the Middle East and North Africa.

Chemicals; machinery and transport equipment; and manufactured goods are the key export commodities for Yorkshire and the Humber, with America, France and Germany remaining our top three export partners.

Exports to EU countries and wider Europe continue to decline, reflecting the challenging trading conditions that remain in many countries closer to home.

Mark Robson, regional director for UK Trade & Investment (UKTI), said: "The latest export statistics are largely positive for the region and it is hugely encouraging to see gains outside of Europe, where there is clearly ongoing uncertainty and economic challenges.

"It shows that local companies are adapting their strategies and pursuing opportunities further afield, which is something my team and I have encouraged for years. Europe remains our biggest market and is the obvious go-to region for many to tackle first, but you shouldn't be deterred from seeing what lies beyond.

"Broadly speaking our export values are getting back to where they were in 2013, which was our strongest year on record, and I am cautiously optimistic that we will see further growth in the final quarter of 2014 to bring some sustained momentum."

£20m was announced in the Government's Autumn Statement to support for first time exporters which includes more UKTI advisors and overseas events, and help for businesses to access new markets through the internet.

Robson added: "The UKTI Y&H team has been pushing hard for some time to grow the number of first time exporters as we know there is a mass of untapped potential on our doorstep – local companies with the skills, heritage, products and services to make an impact in competitive overseas markets, but who need help and guidance to take those first tentative steps."

UKTI website

Images: UKTI

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