YORKSHIRE AND THE HUMBER EXPORTS RISE BY 8.7%
Exports of goods from Yorkshire and the Humber have risen by 8.7% to £16.9bn for the year ending March 2018, according to the latest figures from HMRC published Thursday, 7th June 2018.
The region outperformed the national average, which reported a 6.5% increase (to £244.6bn).
Figures for the first quarter of 2018 (Jan-Mar) also show that the Yorkshire and the Humber is now home to more than 7,416 exporters, an increase of 3.5% when compared with the same period in 2017, with an average value per exporter of £585,000.
One Yorkshire and the Humber business that has seen its export sales flourish is engineering component manufacturer Quality Bearings Online, which counts NASA and the McLaren F1 team among its customers.
The Leeds-based company, which currently exports to 106 markets worldwide, will be opening a sales office in Chicago later this year after securing support from the Department for International Trade (DIT) to meet new clients in the United States.
As a result of its expansion, the business is now expecting to see its US sales double in 2018.
Mark Robson, Head of Exports for Yorkshire and the Humber at Department for International Trade, said: “These statistics are a testament to the strong demand for Yorkshire and the Humber’s goods overseas and to the success of our region’s businesses in capitalising on the wealth of opportunity for growth abroad.
“Although we know exporting can boost profitability and increase resilience, we also know the process is not without its challenges. We have a team of 29 International Trade Advisers in Yorkshire and the Humber on hand to help firms across the region of all sizes tackle barriers such as logistics, customs and language.
“There is support available, and I’d urge anyone interested in seeing where exporting can take you to get in touch. If local companies like Quality Bearings Online can find success through exporting, many others can too.”
International Trade Secretary, Dr Liam Fox said: “As we continue our path to Brexit, HMRC’s latest figures clearly show every part of the UK making the most of global opportunities as goods exports rise across the country. More than 100,000 businesses are expanding their horizons and making the most of the demand for quality British goods.
“For some, this isn’t the end of the road but the start to their exporting journey. As they grow their networks and create jobs and prosperity across the UK, my international economic department is supporting them through our experienced international trade advisers and Exporting is GREAT campaign. Separate figures released by the Department for International Trade today highlight British businesses feeling that UK exports are set to remain on an ever-growing upward curve as the UK leaves the European Union.”
Exporting is GREAT is the government campaign to inspire and support more UK companies to take their first steps towards selling overseas and help existing exporters grow further. The campaign is currently showcasing 30+ UK businesses – from a range of sectors and regions – to inspire and support firms up and down the country to export.
Separate figures released by the Department for International Trade on 7th June highlight British businesses feeling that UK exports are set to remain on an ever-growing upward curve as the UK leaves the European Union.
The National Survey of Registered Businesses (NSRB) 2017, published by the Department for International Trade (DIT), surveyed 3,000 businesses from across the UK.
- Nearly three-quarters (73%) of businesses with an annual turnover of £500,000 or more said they believed that there is strong demand for British good and services from around the world (up from 68% in 2015
- Almost half (47%) of all UK businesses believe that the value of UK exports will continue to grow over the next five years, more than double the amount who thought the opposite
- Nearly two thirds (63%) of businesses with an annual turnover of £500,000 or more businesses agreed that significantly more businesses could export be exporting (up from 55% in 2016)
- As the Department prepares to launch its Export Strategy, as many as 130,000 companies have made use of DIT’s export support offer
The statistics showcase a change in attitude amongst some businesses to a position where they are increasingly interested in exporting and in the benefits that come with overseas sales.
Firms looking for support should call 0300 365 1000 or email firstname.lastname@example.org. They can also visit great.gov.uk, which has information on live export opportunities and includes general information on exporting and events.