Yorkshire & Humber Exports rise by more than a Fifth

The value of goods exported by companies in Yorkshire and the Humber has risen by more than a fifth in the first three months of 2017, according to the latest figures.

Figures from HM Revenue & Customs have revealed that the value of exported goods by companies in Yorkshire and the Humber rose by 21 per cent in the first three months of 2017 when compared to the same period in 2016.

Exports from Yorkshire and the Humber companies reached £3.9bn, up from £3.2bn in the same period last year, an increase of 21 per cent.

EU exports accounted for 56 per cent of the total value, while exports to North America accounted for 16 per cent and Asia and Oceania reached 13 per cent.

Machinery and transport exports made the most significant contribution accounting for 29 per cent of the total value and chemicals accounted for 23 per cent.

The number of Yorkshire and Humber exporters also rose from 8,959 in the first quarter of 2016 to 9,365 in the first three months of 2017.

Mike Thornton, head of manufacturing at RSM, said: “The decrease in the value of the pound since last year’s referendum has helped exporters and these figures show that the region’s businesses have been making the most of this.

“Looking ahead, however, the outlook for exporters is less clear.

“Last week’s election result has caused further turbulence in the political climate and businesses will no doubt be hoping for some early clarity on the UK’s future trading relationships with Europe once the Brexit negotiations start in earnest.”

Original Article: Joshua Hammond, Insider Media, 14th June 2017

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