Exports from the region up 6.2% year on year

WEST Midlands businesses exported £5.24bn worth of goods and services during the second quarter of the year – an increase of 6.2% on the same period last year.

However, on a quarterly basis the value of exports fell when compared to the first three months of 2012.

HMRC’s trade figures show that, on an annual basis, the region has exported £20.9bn worth of goods and services in the year to the end of June.

The US and China continue to be the region’s largest export partners, followed by Germany, France and Holland.

Roy Harris, HSBC regional commercial director for the Midlands, said: “Whilst it is disappointing that exports from the region fell on a quarterly basis, we must remember that this coincided with a period that included the Queen’s Jubilee celebrations and the European Championships. 

“On a year-on-year  comparison, which is perhaps a more accurate reflection of how trade is performing, the level of exports was up by more than 6%, which is a strong performance.

“It was particularly encouraging to see a year-on-year 2% increase in the number of exporters, which suggests that the export message is hitting home.

“These figures are a reminder that West Midlands businesses are competing
against all other nations with regards to the global economy and that we must  remain active and competitive to win business.”