Partner Article

Export leaders tell NE not to lose faith

North East business experts have said that there are plenty of export opportunities in the region, despite figures showing a decline in growth.

The latest trade statistics revealed by HM Revenue and Customs illustrate that during the second quarter of 2009, just under £2.3b worth of goods were exported from the North East, compared to £2.4b in the previous quarter.

The rolling 12-month figure for the total value of products exported from the area in the year to the end of June has also fallen back to £10b, down almost 8% compared to the previous year.

David Coppock, UK Trade and Investment’s International Trade Director, said: “In the light of the economic situation the fall in exports was not unexpected.

“However, that does not mean that there are not opportunities available. There are already indications that the economy is improving and now is the time for companies to look into new markets, so when recovery comes they will be best placed to take advantage.”

Despite the latest statistics, more than half of the region’s top 20 destination markets have shown growth along with road vehicles and pharmaceutical products, which remain the North East’s top export sectors with annual values of almost £2.5b and £2.4 billion respectively.

Dr. Simon Goon, Head of Business Investment at One North East, said: “The North East can take solace in the significant growth of key export markets such as the Netherlands and the healthy performance of our automotive and medical/pharmaceutical sectors.”

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