Exports boost North East to the tune of £12bn

NORTH East manufacturers led the region to its best ever trade performance in 2010 with exports hitting a record total of almost £12bn.

Car maker Nissan’s Wearside plant was at the forefront of the export charge with a record production year boosting the value of the goods from the region being sold abroad by more than £1bn.

And the region’s manufacturing sector also produced a storming year with exports up by an additional £1bn.

The surge in exports – up 24% from £9.6bn to £11.9bn – was met with a similar £2bn rise in imports.

One further highlight was the region’s performance in the last quarter of 2010, with exports of £3.3bn, which was the best on record and compared sharply with the fall in national GDP of 0.6%.

The success of the region’s exporters is helping to ease the pain of the continuing job losses in the public sector, say industry experts.

David Coppock, international trade director for UK Trade and Investment (UKTI) in the North East, said: “This is terrific news for the region.

“What is particularly pleasing is the record performance of the final quarter which was a record quarter of exports for the region.

“There is every sign this will continue in the coming year which is excellent new for the regional economy and should help provide a shot in the arm for the employment market.”

James Ramsbotham, NECC chief executive, added: “The Government is clearly focused on a growing private sector as the way of picking up the economy and the region’s manufacturers and engineers seem to be leading the way.

“This is creating new jobs for the North East and is also creating jobs for the companies which provide services to these successful companies.

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