East Midlands exports have reached £5.09 billion, up from £4.51 billion this time last year, and have seen the second largest growth in the country, according to the latest export statistics published this week by HMRC for the period.
For the year ending September 2013 the total export value of goods for the East Midlands was £20.2bn compared to £18.7bn in the year ending September 2012, an increase of 8.2 per cent.
The USA continues to be the region’s largest export market with sales worth over £2.99 billion, followed by Germany at just over £2.209 billion. There were further increases in exports to non-EU markets which now account for 56 % of the region’s exports; including increases in exports to China; the USA and Singapore - Exports to China have increased by £35m compared to the same period last year, and are currently at £1.537bn for the year ending September 2013 . Whilst exports to the USA and Singapore were up by 12 per cent and 20.7 per cent respectively for that period.
Sarah Stevenson, Regional Director for UKTI East Midlands, said:
“The statistics show our exports are continuing to grow at an impressive rate. The USA and Germany remain our main markets, but high growth markets like China and Singapore, are developing at a strong rate . Up by over 10 % and 20% respectively on last year, and it is in these markets where our future growth lies.
“ As we say goodbye to our outgoing Trade Minister Lord Green, we should take confidence from the fact that every single one of the 56 markets he's visited over his 3 year tenure has shown a great deal of interest in and loyalty towards British products and services. We want more companies to capitalise on this and step up to the global challenge. Any company, whatever size, can grow by exporting, and we are here to help and offer free advice and support.”
To find out more about the range of support and services provided by UKTI East Midlands call: 0845 052 4001 or visit: www.ukti.gov.uk/eastmidlands
East Midlands International Trade Association (emita) is a company limited by guarantee and is registered in England and Wales under company number 5568876. Registered office:3 Barrow Road Sileby LE12 7LW