West Midlands leads other UK regions in trade growth terms

GOVERNMENT trade statistics reveal that the West Midlands region has the highest export growth in the UK with overseas sales now worth £27.8bn.

The latest total revealed by HMRC is 19% higher than last year’s £23.8bn figure.

The Commonwealth markets of Canada (£132m) Australia (£121m) South Africa (£61m) and India (£61m) proved lucrative for local exporters during January- March 2014 with these countries featuring in West Midlands’ top 25 export markets for the quarter.

However, China remains the region’s top export market, worth £1.2bn this quarter.

UK Trade & Investment (UKTI) Regional Director Paul Noon said: “Our links with the Commonwealth mean that doing business there can be more straightforward than less familiar markets, and they like our products, and doing business with us. 

“The latest statistics show the West Midlands still leads the way by having the largest year-on-year increase in exports.

“We have now moved up a place to become the third biggest regional exporter, behind the South East and London.”