UKTI welcomes increase in South West annual exports

Latest figures released by HM Revenue & Customs yesterday (6 March) show that the value of exports from the South West increased significantly by 7.5 percent, to £13.67 billion, in the year to December 2013.

Latest figures released by HM Revenue & Customs yesterday (6 March) show that the value of exports from the South West increased significantly by 7.5 percent, to £13.67 billion, in the year to December 2013.

According to the latest quarterly figures exports from the South West account for 4.6 percent of the UK’s total exports and show a 2.9 percent increase in the last quarter [June to Sept 2013].   The number of exporters from the region also grew year-on-year.

Machinery and transport equipment, manufacturing good and chemicals continue to be the most exported commodities from the region, and the South West remains one of only two regions with ‘Food and Live’ commodities in their top five export goods.

The European Union remains South West’s biggest export market representing 58.6 percent of all exports from the region. The figures show that the value of exports to Asian and Oceania  remained steady at £1.8 billion over the past year, whilst the value of exports to the Middle East & North Africa increased by £237 million.  There has also been a year-on-year increase in exports to Sub-Saharan Africa.

UKTI Regional Director Russell Jones said he urged the region’s businesses, both large and small, to renew their efforts and take advantage of the support available via UKTI’s services.

“This rise in the value of exports from the region is very welcome and encouraging, I am certain there are still many companies in the South West that could take their UK success and replicate it overseas.

“Whilst we are still heavily reliant on EU countries, I’m particularly pleased to see more businesses venturing into emerging, high growth markets.”

“Any firm, from single owner operations to large corporations can do it, if they do their research and plan properly. UKTI’s experience and specialists can help with this and I would urge businesses to consider attending our Export Week events, from 7 to 11 April, to see how UKTI can help reduce the risk of doing business overseas.

“Exporting is crucial to the growth of our regional economy and once you start exporting, there’s no limit to where you can go and the profit you can make.”

To find out more about the wide range of support services available through UKTI to help your company succeed overseas call UKTI South West on 0845 60 60 969, email enquiries@uktisouthwest.org or visit www.ukti.gov.uk. To find out more about Export Week visit www.exportweek.ukti.gov.uk