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Sustained growth for Yorkshire & Humber exports to the Commonwealth at £4 billion this quarter

The latest trade statistics from HM Revenue & Customs reveal that total exports for Yorkshire and the Humber were worth more than £4.07 billion for the first quarter of 2014.

These figures come as the UK prepares to welcome the return of the Commonwealth Games at Glasgow 2014.

Despite a slight decline on the same period of 2013, the in-year figure, from April 2013 to March 2014, shows sustained growth. Analysis also reveals gains in exports to commonwealth regions like Asia & Oceania, the Caribbean and North America, including Canada.

There was uplift in all three regions for Q1 2014 versus Q1 2013, with North America in particular growing from £682 million to £883 million.

Export chief for Yorkshire and the Humber, UK Trade & Investment (UKTI) regional director Mark Robson, said: “Trade within the Commonwealth is estimated at £300 billion a year and the Games will provide further opportunities to boost this trade.

“The latest statistics show that local businesses are continuing to overcome economic hurdles and rise to the challenge to grow.”

“Our role at UKTI is to make sure companies continue to export and make the most of any opportunities available.

“This is why we need to maximise the opportunities that the Commonwealth Games will bring, and is why UKTI is working closely with Scottish Enterprise, the Scottish Government and the Commonwealth Business Council to deliver a business conference in Glasgow.

“It aims to attract more than 200 business CEOs and political leaders from across the commonwealth, ahead of the opening of the Games, and will provide a platform to look at the issues and opportunities that businesses from across the Commonwealth face in moving forward.”

Today’s HMRC statistics show that chemicals; machinery and transport equipment; and fuels are the key export commodities for Yorkshire and the Humber, with America, France and Germany remaining our top three export partners.

UKTI is also hosting a major Export Fair at Ripon Racecourse on 27 June that provides an opportunity for companies to find out more about the wealth of support available to help them succeed in international markets.

Eric Hawthorn, Leeds City Region Enterprise Partnership (LEP) board member and MD of Shipley-based Radio Design said: “With confidence among Leeds City Region businesses now at a record high, there’s never been a better time for firms to start exploring the enormous opportunities in international markets.

“Take advantage of the support available from UKTI, the chambers and other organisations, which can make exporting so much easier. My own company has benefitted from this support, and 70% of our business is now international.”

This was posted in Bdaily's Members' News section by Clare Burnett .