YORKSHIRE EXPORTS GROW TO ALMOST 17BN

Exports of goods from Yorkshire and the Humber have grown to almost 17bn according to the latest figures from HM Revenue & Customs (HMRC).

It found that the region's exports rose by 8.7 per cent to £16.9bn for the year ending March 2018. This outperformed the national figures of a 6.5 per cent increase to £244.6bn.

Figures for the first quarter of 2018 (January to March) also show that the Yorkshire and the Humber is now home to more than 7,416 exporters, an increase of 3.5 per cent compared with the same period in 2017, with an average value per exporter of £585,000.

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."

Among the Yorkshire and the Humber business to have grown export sales 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 US.

As a result of its expansion, the business is now expecting to see its US sales double in 2018.

Source: Steven Farrell, Insidier Media, 12th June 2018

Last Updated: 14/06/2018
Author: Renate Halton

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