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Chamber welcomes positive North East export figures

 

North East England export figures show the region is bucking the downward, national trend and had a strong third quarter with a £250m increase on 2016 Q3 figures up to £3.16bn.

North East England export figures show the region is bucking the downward, national trend and had a strong third quarter with a £250m increase on 2016 Q3 figures up to £3.16bn.

Jack Simpson, policy adviser, 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 £1.93b, up 10% on previous quarter to 60%, (the national average is just over 50%). Machinery and transport goods represented the majority of the exports at 55%.

Non-EU exports totalled £1.24bn, up from Q3 2016, but lower than previous years, and the previous quarter. The most valuable destination outside the EU in Q3 2017 was Asia & Oceania, worth 32% of non-EU exports. Overall, North East exporters made up 3% of UK exporters and 3.9% of national exporting value, while North East made up 2.9% 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.