Region bucks national trend with rise in exports
North East England export figures show the region is bucking the downward national trend.
The region had a strong third quarter with a £250million increase on the same period last year to 2016 Q3 figures up to £3.16billion.
The report highlights the continuing importance of the European Union to the region’s economy as Brexit negotiations continue.
The EU remains the top destination for North East exporters, with a value of £1.93billion, up 10% on previous quarter to 60%, compared to a national average of just over 50%.
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Machinery and transport goods represented the majority of the exports, at 55%.
Exports to the rest of the world totalled £1.24bn, up from the third quarter of last year, but lower than previous years, and the previous quarter.
The most valuable destination outside the EU was Asia and Oceania, worth 32% of non-EU exports.
Overall, North East exporters made up three per cent of UK exporters and 3.9 per cent of national exporting value, while the North East made up 2.9 per cent of UK importers and import value.
North East England Chamber of Commerce policy adviser Jack Simpson said: “While growth has been positive, it has been in the predictable and established markets.
“To help boost global trade, it is essential that the Government encourages and supports business in their exporting missions.
“This will help business access new global opportunities, and promote growth and innovation in their sector.
“It is really positive to see the North East continue to grow in these globally uncertain times, but we believe with the right support, these figures could be even better.”
The Chamber supports existing exporters and companies who want to explore marketing themselves overseas for the first time through a series of workshops, trade missions and specialist international trade advisers. It has also a dedicated export documentation service.
As part of its Stronger North East campaign for 2018 the Chamber is urging the Government to give more support to exporters and those who want to try international markets. A series of events is planned, starting on January 9 at Sunderland Software Centre.