Yorkshire trumps UK exports

Yorkshire trumps UK exports

The number of Yorkshire businesses exporting goods and services last year grew by a mammoth 21%, making it the second highest in the UK, according to new research by Santander.

The research shows the number of businesses in Yorkshire actively exporting goods andor services grew by 21% between 2012-2014, rising from 11,500 to 13,900.

Yorkshire was second only to Wales which recorded a 32% increase in the number of firms exporting during the period, according to the analysis by Santander of the recent goods and services regional export data from the Office of National Statistics.

Mark Robson, UK Trade & Investment regional director for Yorkshire and the Humber, told BQ: “Exporting is vital for the long-term health of the region and is critical for businesses that want to grow.

"It’s fantastic to see that even more businesses in Yorkshire and the Humber are breaking into international trade, but we want even more to seize on the incredible opportunities overseas.

"Companies that export grow faster than those that don’t and are more profitable, productive, innovative and resilient to downturns than firms that remain dependent on customers at home.

“Exporting is good for the entire regional economy because it generates just under one fifth of all income both in Yorkshire and nationally – that amounts to lots of invaluable jobs both directly and indirectly.”

Oliver Hoffman, Leeds office managing partner at Mazars, echoed this view. He added: "International trade has always been a significant driver of growth for the UK economy and increasingly Yorkshire businesses are seeking out customers in high growth markets outside the euro zone.

"We are seeing strong Yorkshire brands capitalise on exporting opportunities as they seek to consolidate their competitive positions and take advantage of the scale of investment and opportunity available. Exporting is seen as the new vogue for forward-thinking UK businesses.

"As well as growth benefits, exporting presents many other significant advantages for businesses including stronger financial performance, higher efficiency levels and access to more ideas for new products and services."

Overall, the number of UK businesses actively exporting goods andor services rose by 5% over the three-year period to 221,300 firms.

As at the end of 2014, a quarter (25%) of all firms exporting were in London (56,400), with a further 19% (40,700) in the South East, and 12% in the East of England (24,200).

 

The data shows:

Numbers of firms in Great Britain that export goods andor services, ranked by three-year regional growth

Region

Number of exporters

Growth in number of exporters,

% change 2012-2014

 

2012

2013

2014

Wales

3,700

4,200

4,900

32%

Yorkshire and The Humber

11,500

12,400

13,900

21%

Scotland

9,500

10,800

11,100

17%

East Midlands

13,300

16,000

14,900

12%

North West

15,400

18,500

17,100

11%

London

53,600

58,300

56,400

5%

Great Britain

210,200

228,900

221,300

5%

England (overall)

197,000

213,900

205,300

4%

South West

18,300

20,100

18,900

3%

South East

39,600

42,500

40,700

3%

East of England

25,100

23,100

24,200

-4%

West Midlands

16,500

18,600

15,600

-5%

North East

3,800

4,300

3,500

-8%

Source: Santander analysis of ONS data