Member Article

North East export industry grows rapidly

The North East exports industry has grown in the last quarter to reach another record high for the 12 months to the end of March 2012.

In Q1 2012, the North East was one of three regions who witnessed growth, with exports totalling £3.639 million. The 12 monthly total has risen to a record £13.75 billion.

The figures are a 7.48% increase on the previous 12 months, compared to a national increase of just under 8.9%. This news comes despite a dip in latest quarterly figures of around 2.46%.

Among those already achieving international sales success is Plenary Project Solutions Ltd, in Middlesbrough, a specialist engineering company operating in the offshore oil and gas industry.

Danny McGlade, Managing Director at Plenary Project Solutions Ltd, said: “Our association with UKTI has been a great experience right from the outset, assisting us in opening up overseas markets through the many solid introductions that they have enabled in several countries in which we seek to engage in business.

“This support has also included introductions to various UKTI experts from overseas during visits to the North East, which included meetings with representatives from the former-Yugoslavian countries providing us with a great deal of knowledge allowing us to
better understand and explore business opportunities there.”

The USA remains the largest single market for North East goods with a 12-month export value of £2.4bn, an increase of 20.12 per cent on the previous 12 month figure.

The region’s export values to 15 of its top 20 markets grew over the past 12 months and the fastest growing market was Israel with an increase of £87.8m or 199 per cent to give a total of £131.8m. Exports to South Africa increased by £68.23m, or 59 per cent, to £184m while exports to Russia increased by £392.92m, or 47 per cent, to give a total of £1.236bn.

Exports of Specialised Machinery, Road Vehicles and Power Generating Machinery were the fastest growing sectors in the past 12 months, showing increases of 24 per cent, 23 per cent and 20 per cent respectively on the previous year. The total for Specialised Machinery was £835m, for Road Vehicles £5.4bn and for Power Generating Machinery it was £936m.

Commenting on the figures, David Coppock, UK Trade & Investment (UKTI) Regional Director said: “The region has enjoyed another excellent export performance this quarter – our highest recorded - and the total for the past 12 months is again at a record level for the region.

“But we cannot be complacent and we want to see even more companies stepping up to the international trade challenge, as Plenary Project Solutions has done so successfully.

“Our aim is to help create 500 new exporters over the next two years and we will be spending the next quarter encouraging and supporting firms to do this.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .