Member Article

North East Exports witness record £13.5bn growth

The North East exports industry grew by a record amount during the last quarter, bringing the 12-monthly total up to a record £13.5 billion.

Between October and December 2011, the North East witnessed exports from the region reaching £3.62 billion, one of only eight English regions to do so.

This figure also represents a 13% increase on the previous 12 months, compared to just less than 12%.

The region, alongside Yorkshire and Humber, also recorded a small increase in the number of firms involved in international trade. During 2011, 1,555 North East firms exported goods around the globe, an increase of 1.8 per cent compared to 2010.

Ford Aerospace Limited, in South Shields, was one of those firms. The firm specialises in supplying components and precision machined products to the global aerospace industry.

Commenting on the support the firm has received from UK Trade and Investment (UKTI) to facilitate this, managing director Mark Podmore said: “With UKTI’s support we have managed to secure new clients in several overseas markets and have now signed up new agents in China which has led to more new business for us.

“This has enabled us to increase turnover and sustain employment and we hope this trend will continue as our relationship with China develops further.”

Today’s figures also revealed that the fastest growing single market for the region during this quarter was South Africa, with exports to that country increasing by £88.5 million, or 99 per cent to give a total of £178 million in the past 12 months. The USA remains the largest single market for North East goods with a 12-month export value of £2.4 billion, an increase of 37 per cent on the previous 12 month figure.

Among the region’s other fastest growing markets were Canada, an increase of £67 million or 57 per cent to give a total of £184m and Russia, an increase of £337 million or 47 per cent to give a total of £1.06billion.

David Coppock, UKTI Regional Director was delighted by the region’s excellent performance.

He said: “It’s also encouraging to see that more North East companies are taking up the export challenge and UKTI will be working hard in its bid to help find 500 new exporters.

“Overseas markets offer a host of opportunities and there continues to be a strong demand for North East products, as companies such as Ford Aerospace Limited has proved. Our challenge now is to build on this strong growth and I would urge companies to take up the export challenge and contact UKTI to find out how we can help.”

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