Positive news on regional export figures
Export figures for the North East show the region is bucking the downward, national trend and had a strong third quarter with a Â£250million increase year on year up to Â£3.16billion.
Jack Simpson, policy adviser for the North East England Chamber of Commerce, said: “While growth has been positive, it has been in the predictable and established markets.
“To help boost global trade, it is essential that the Government encourages and supports business in their exporting missions. This will help business access new global opportunities and promote growth and innovation in their sector.
“It is really positive to see the North East continue to grow in these globally uncertain times, but we believe with the right support, these figures could be even better.”
The EU remains the top destination for North-East exporters, with a value of £1.93billion, up 10 per cent on the previous quarter to 60 per cent of the total, (the national average is just over 50 per cent). Machinery and transport goods represented the majority of the exports at 55 per cent.
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Non-EU exports totalled £1.24billion, up on the same period in 2016, but lower than previous years and the previous quarter. The most valuable destination outside the EU was Asia & Oceania.
Overall, North-East exporters made up three per cent of UK exporters and 3.9 per cent of national exporting value, while the region made up 2.9 per cent of UK importers and import value.
The Chamber supports existing exporters and companies who want to explore marketing themselves overseas for the first time through a series of workshops, trade missions and specialist international trade advisers. Further information is available on the Chamber website.