Yorkshire and the Humber experience 21% rise in export sales

Exported goods by companies in Yorkshire and the Humber rose by over a fifth in the first three months of 2017, compared to the same period last year.

New figures from HMRC have revealed that in the three months to the end of March, exports from Yorkshire and the Humber companies reached £3.9bn, up from £3.2bn in the same period last year, a rise of 21%.

Exports to EU countries accounted for 56% of the total value, followed by North America on 16% and Asia and Oceania on 13%.

Machinery and transport exports made the most significant contribution with 29% of the total value, while chemicals accounted for 23%.

There was also a slight increase in the number of Yorkshire and Humber exporters, which rose from 8,959 in Q1 of 2016 to 9,365 in Q1 2017.

Mike Thornton, head of manufacturing, at RSM, said: “The decrease in the value of the pound since last year’s referendum has helped exporters and these figures show that the region’s businesses have been making the most of this.

“Looking ahead, however, the outlook for exporters is less clear. Last week’s election result has caused further turbulence in the political climate and businesses will no doubt be hoping for some early clarity on the UK’s future trading relationships with Europe once the Brexit negotiations start in earnest.”