Partner Article

North East exports at record high

North East exports have reached a record high as the region enjoyed the highest level of growth of any in the UK.

Latest statistics, based on figures compiled by HM Revenue and Customs, showed that during the second quarter of the 2008 financial year - April to June - exports of goods from the North East were recorded as £2.94 billion. The figure for the same quarter in 2007 was £2.296 billion.

The figure for the 12 months up to the end of the second quarter of 2008 was also at its highest level, £10.92 billion, an increase of more than 26 per cent compared to the £8.65 billion of goods exported in the previous 12-month period.

David Coppock, UK Trade & Investment’s International Trade Director, said: “The North East’s international trade performance continues to grow and when you add exports of services to the figures for goods the total is now in excess of £13 billion a year.

“We’re obviously delighted with the region’s continuing strong performance but we know there are still many more companies in the North East who have yet to reap the rewards of international trade. We would encourage them to contact us to find out more about potential markets and how we can help exploit them.”

Ian Williams, One NorthEast Director of Business and Industry, said: “Despite the economic challenges caused by the global credit crunch the North East has performed exceptionally well in export markets and continues to set the benchmark for the rest of the UK.

“The sectors providing the most exports for the region are in automotive, biotech and pharmaceutical with all performing exceptionally well. The HMRC figures reflect the buoyancy of the regional economy.”

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