Figures released today by HM Revenue and Customs revealed that the total annual value of UK exports decreased by 2.6 per cent to £285 billion in the year ending June 2015. But, the South West region has bucked the trend:
- The total value of South West exports increased 5.6% to £14.5 billion
- The South West also saw an increase in the total number of exporters over the same period
- The regions top export partners by value were Germany, France, USA, Ireland and Italy
Commenting on the latest regional trade statistics, Phil Smith, Managing Director of Business West, said:
“Today we see a welcome boost for the international profile in the South West, with the total value and number of exporters on the up despite a national decrease. This shows us that the world loves West Country products, with an increasing appetite for the goods that local firms are creating day in day out.
“Over the past year South West firms have exported £14.5 billion goods and services, firmly putting our region on the world map. Our region lags behind the rest of the country but these figures show that we are catching up. Two months ago we saw the Government's new Minister for Trade, Francis Maude, come to Bristol to add fuel to our region’s drive and encourage more companies to export, and this data shows us that our #GetExporting campaign is gathering momentum.
“However we know there are many firms out there who are not aware of the support available to tap into international markets. They will be watching this news wondering how to get involved. To these firms we say come and take the advice available at UK Trade & Investment who can help at every stage of the export journey. In addition Business West can assist with the often complex international trade documentation – ensuring you get paid for your goods.
“Expanding overseas is really worth considering as research shows that successful export businesses achieve greater growth and higher profitability.”
For more information visit http://www.businesswest.co.uk/export-overseas