Below are the latest quarterly export figures for the North East with a national comparison:
|Q3 2010 (Export value £ million)||2,976||63,956|
|Change from previous quarter||0%||-3%|
|Change from Q3 2009||26%||15%|
|12 months to September 2010 (Export value £ million)||11,170||252,103|
|12 months to September 2009(Export value £ million)||9,422||224,621|
|Number of Exporters Q3 2010||1,074||50,677|
|Change from previous quarter||0%||2%|
On the whole these are a relatively solid set of figures. While broadly the same as those released last quarter, they demonstrate continued improvement from the dip in exports we saw just over a year ago. In fact, the region hasn’t had two quarters this strong since the middle of 2008. These figures also support the data released earlier this week showing the resilience of the North East economy compared to the UK average.
Some commentators have picked up on the fact that export growth doesn’t appear to be happening particularly rapidly. While current monthly data supports this, it may be a little early to judge the export recovery until we can look at some longer term trends, especially given the severity of the recession and the current instability in some of our key markets.
Perhaps the bigger issue (and our biggest opportunity) is the stagnation in the number of exporters. In the North East this has stayed roughly around the 1,070 mark since at least 2007. The figures show that the potential for export growth is there, but we must make every effort to support businesses into exporting for the first time.