American trade boost sees South East retain export crown
Thanks to a huge trade boost to the US, Latin American and Caribbean markets, businesses in the South East remain top for UK exports
According to the latest HMRC statistics, the South East continues to be the biggest regional exporter across the UK. The total value of goods exports from the South East for the year ending September 2015 increased by 3.27% to £40.7bn.
The boost was driven by huge sales growth to North America, the US, Latin America and the Caribbean markets, despite a slight drop in exports to China and EU reflecting their slower economic growth.
The USA, the region’s top exporting market, expanded by a massive 55% to £8.1bn in the year ending September 2015. Key export sectors include machinery, manufactured goods and food.
The highest growth in the US came in the chemicals and related products sector, in particular, organic chemicals saw the highest increase at 798%.
Lewis Scott, Regional Director for the South East at UK Trade & Investment (UKTI), said: “The continuing rise in overseas trade clearly demonstrates the excellent diversity of the South East economy and its businesses.
“But there are even more companies in the South East who have the potential to export, and are not yet doing so.
“Every day in every country around the world, there is someone somewhere who wants or needs a UK product or service. The demand is out there and we want to ensure that more South East businesses are too.”
Mr Scott continued: “To inspire and help first time exporters from initial interest to exporting overseas, the Government has just launched its flagship Exporting is GREAT (EIG) initiative led by UKTI. As part of this campaign the year-long EIG Roadshow will visit the South East in May 2016 to connect local businesses with hundreds of export opportunities sourced by the government’s international network.”
This was posted in Bdaily's Members' News section by Ellen Forster .
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