North’s exports fall again
NORTH-EAST exports have fallen for the second successive quarter, official figures have revealed.
Data from HM Revenue and Customs showed the region exported £2.31bn of goods in the first three months - a 9.7% decline on the previous quarter and the lowest volume since the second quarter of 2007.
But it was not all bad news for the region, with the rate of decline slower than the 12.8% fall in the previous quarter, while year-on-year volumes rose by 5.1% to £10.8bn.
Nationally, volumes dropped by 12.1% while only one region - the North-west - reported growth on the previous quarter.
Ross Smith, head of policy for the North East Chamber of Commerce, said the figures reflected anecdotal feedback from members.
He said: “The impact of recession is slowing down but we’re not ready to say we’ve reached the bottom yet. Effective links to and from (the region’s) airports and ports will ensure that the North-east continues to have good access to international trade.”
He said global demand for high-value specialist products would help drive North-east exports in the coming months - particularly in offshore and marine, health sciences and energy. “Energy is one of the few sectors that we can really nail down and say is going to be a great sector for years to come,” he said.
UK Trade and Investment said the weakness of sterling - which has increased the real value of UK goods - and contraction in the domestic market opened up export opportunities.
Ross Cordiner, UKTI’s deputy international trade director for the North-east, said: “Exports haven’t fallen as much as some people have anticipated. It’s about looking for new markets.”
