The latest data from HM Revenue and Customs (HMRC) shows just how much the weakness of the pound is helping exporters. Exports from North West businesses topped £8bn in the first three months of 2017, up 21% from £6.6bn during the same period last year.
Exports to the EU accounted for 47% of the total, with North America coming in second at 20% followed by the Asia-Oceania region with 17%.
Machinery and transport made up 46% of goods shipped, while chemicals accounted for 23%.
HMRC’s figures also show an increase in the number of exporters in the region, up to 12,265 from 11,710 in the first quarter of 2016.
Rob Johnston, Chief Executive of Cumbria Chamber of Commerce, said: “The fall in the value of the pound since the EU referendum is certainly the main factor behind the upturn but it’s not the only factor.
“We have noticed an increase in businesses looking to export for the first time, and in existing exporters looking to target new markets.
“And while, in the past, would-be exporters would probably have looked at Europe first, they are now as likely to consider the US or China, or even emerging economies such as India.”
Are you a first-time exporter or an SME who has not exported within the last 12 months? If your answer is yes then the Department for International Trade would like to hear from you as you may be eligible for a new six-month structured programme to get you up and running.
The highlights of this programme include
- Two half day workshops and access to focused master classes;
- A dedicated international trade advisor to help you develop and work through an action plan;
- No cost apart from commitment and time;
The workshops include:
Introduction to exporting
Focuses on the key issues covering legal, financial and logistical obstacles and how to mitigate these risks as well as how to trade safely overseas.
Export sales workshop
A practical guide to finding and engaging with customers through to the first sale and beyond.
e-Export sales workshop
An introductory workshop for companies selling products online through multiple channels, both business to business and business to consumer.
For more information call Catherynn Dunstan on 0845 22 600 40 or email her at firstname.lastname@example.org