Exports from the region grew by 12% for the first quarter of 2017 – led by machinery sales.

East of England businesses exported a total of £6.7bn for the three months to the end of March, up from £6bn for the same period last year, according to figures from HMRC. EU countries accounted for 51% of the total value, followed by North America on 16% and Asia and Oceania on 14%. Machinery and transport exports made the most significant contribution, at 41% of the total value, while chemicals accounted for 27%.

Andrew Robinson, tax partner at accountancy firm RSM in Bury St Edmunds, said the decrease in the value of the pound had helped exporters. He said: '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.'