Member Article

North East experiences slight dip in exports for Q2

Latest figures from the Office for National Statistics (ONS) have revealed thatNorth East exports have suffered a slight dip for the year’s second quarter.

North East exports in Q2 2015 totalled £3.05bn, down from £3.2bn in Q1 2015 and down from £3.1bn in the same period last year.

Conversely, The number of North East exporters was up by almost 5% at 1,068.

Ben Powick, Policy Adviser at the North East Chamber of Commerce, has moved to play down any cause for concern.

Mr Powick said: “Although total North East exports have dipped slightly, with a small decline in the value of our exports, the region once again maintains its strong export surplus. The North West has also produced a surplus in trade, with both regions outperforming the rest of England.

“Similar to the previous quarter, our exports to the EU remain strong, with an increase on the same period last year. A 5% increase in North East exporters is especially welcome after a slight dip in Q1 2015.”

Nationally exports rose by just under 5% quarter-on-quarter, and by just over 1% from Q2 2014.

Ben went on to explain: “The national picture is optimistic due to heavy growth in non-EU markets, something which has not yet been emulated in our region. With these figures in mind, there may need to be a sharper focus on non-EU markets, especially as the rest of the country is performing so well in this area.

“Support services available from NECC and UKTI are essential to tapping into the opportunity these international markets hold and we urge those wanting to expand their markets to get in touch.”