Annual exports from the East Midlands rose from £19.95bn in 2012 to £21.48bn in 2013, the second highest regional increase behind the West Midlands
Exports for the East Midlands for the final quarter of 2013 hit £5.39bn with the USA revealed as the top market worth £3.2bn
As the latest quarterly export figures are released by HMRC for October- December 2013, the export expert for the East Midlands, UK Trade & Investment (UKTI) Regional Director Ian Harrison, comments on what they mean for the region’s economy.
The new figures show the USA has been the most lucrative market for local exporters for the latest quarter and throughout 2013.
This is followed by Germany at £2.2bn and China (including Hong Kong) at £1.68bn. Belgium and Singapore also feature in the top five.
Ian Harrison, Regional Director for UKTI East Midlands, said: “These are fantastic figures and demonstrate sustained growth from companies across the region. It shows there is a huge appetite around the world for the products and services our firms can offer.
“The region is still one of four which continue to grow, having the second highest percentage increase in exports in England. The East Midlands was also one of three regions to see the number of companies exporting increase compared to the same quarter in 2012.”
One business that has experienced export growth is Shepshed-based Biostatus. Stefan Ogrodzinski, CEO of the firm, who invent novel fluorescent reagents for cell-based research applications, said:
“The continued rise of exports from the region is vital to a sustainable economy so we’re delighted to see this growth for 2013. Our business has seen a 17 per cent growth in 2013 and we are forecasting a 24 per cent growth in 2014. The life sciences sector overall is enjoying excellent growth, playing an increasingly important role in the local and national economy.”
Ian Harrison continued: “Our role at UKTI is to make sure companies continue to export and are armed with the best market research and contacts to help them target the markets that will get them maximum return.
“This is why we are having a special drive next month – Export Week: Grow your business. We want to get this message across to as many companies as possible to help them stay competitive and improve profits through exporting. We also want to show firms who’ve not exported before, how they too can access new markets overseas.”
To find out if UKTI can help your business expand overseas call 0845 052 4001.
For further information and Export Week bookings visit: www.exportweek.ukti.gov.uk
Follow UKTI East Midlands on Twitter @UKTI_EM and take part in the conversation using #exportweek
