10.09.18
Northern Powerhouse exports on the rise with 3.5% increase in last year
Demand for goods created in the Northern Powerhouse continues to soar with sales in the region growing by 3.5% in the last year.
Official figures released last week highlighted the value of goods on the quarter in 2018 rising from £14.5bn in Q1 to £14.9bn in Q2— showing the strength of the northern economy as the UK prepares to leave the European Union next year.
Exports from the Northern Powerhouse region have increased by a massive 16.1% since 2010, an increase worth over £2bn in that timeframe.
Northern Powerhouse minister Jake Berry said the figures show that the Northern Powerhouse is “delivering for exporters across the whole of the north of England.”
“As we prepare for Brexit, the exporters of the north are rising to the challenge,” he added.
“These figures prove that the feeling of optimism about our growing Northern economy I witnessed this summer as part of my tour of the north is real and creating jobs, wealth and growth across the region.”
Figures also show that exports from across the Northern Powerhouse rose by £497m in the past year— with machinery and transport, chemicals and manufactured goods leading as the biggest exports from the regions, worth a combined total of £11.2bn.
Director of economic development at Rolls-Royce Paul Harris said: “It’s positive to see that there has been a rise in trade and exports in the Northern Powerhouse.
“Trading internationally is vital to our global business and 80% of what we manufacture in the UK is exported around the world.”
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