Member Article

North East sustains export push

North East exports have continued to perform well despite the recent downturn in the world economy, according to recent figures.

Statistics compiled by HM Revenue and Customs showed that for the 12 months to the end of September 2008 the North East recorded the highest rate of growth of exports of goods (27.8%) of any English Region, substantially ahead of the UK overall figure (12.9%).

The North East also remained the only English Region to record a positive balance of trade.

David Coppock, UK Trade & Investment’s International Trade Director, said: “The North East’s international trade performance continues to show good growth at a time when the world’s economies are showing signs of slowdown. The effect of this slowdown is not fully reflected in these figures, so while we’re obviously delighted with the region’s continuing strong performance we know there may be more testing times ahead.”

Ian Williams, One North East Director of Business and Industry, said: “Despite the economic challenges caused by the global credit crunch, North East companies continue to perform strongly in export markets - outstripping our own performance last year by 28%.

“We are under no illusions about the challenges the economic downturn presents, but the region’s diverse business base makes it better placed than it has been in the past to deal with the blows dealt by the credit crunch.”

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