Exports boost for the East of England
PUBLISHED: 08:00 08 September 2012
Germany topped the league as the East of England’s largest export partner as new figures revealed an 8pc increase in the second quarter of the year.
Regional exports increased to £27.46bn year on year, while the rise was greater than the 5.5pc national increase figure.
But while Germany was the region’s biggest EU trading partner, the notable growth was in exports to non-EU countries which have increased 18pc year on year to £11.1bn with exports to China up 11pc, Russia up 49pc, Japan up 9pc and exports to the US starting to recover well, up 8pc after a period of low growth.
Growth in the East of England’s exports to the EU slowed to only 1.6pc year on year at £16.33bn.
Liz Basing, regional director for UKTI East, said: “In the East of England we continue to increase exports year on year.
“And it’s great to see that exports to markets further afield continue to grow. But we can’t afford to rest on our laurels.
“To get growth, we need even more companies to export.
“It is no surprise to see that UK exports are beginning to suffer from the flat Eurozone economy.
“Our region is no exception. Europe remains a vital market to a range of businesses, as well as to companies new to exporting.”
Ian Tandy, HSBC regional commercial director for the South East and East said: “It is pleasing to see the value of exports in the last year from the Eastern region has increased significantly compared with the previous year, and this indicates that businesses here are growing in confidence when it comes to trading overseas.
“The good news is that Brand Britain is currently at a premium following the success of the Olympics and overseas businesses want to buy British and deal with our companies.
“Businesses in the region need to capitalise on this feel-good factor and now is the time to make a concerted push into export growth.”