Companies in Cambridge and the East of England region of the UK are enjoying an export boom in the United States.
And it’s not just the region’s technology and industry heavyweights that are earning pocket money from Uncle Sam. UKTI reveals that SMEs are cashing in on transatlantic trade to remarkable effect.Exports from the UK’s ‘ideas region’ to the US in the first quarter of 2012 were 18.9 per cent higher year-on-year and on a rolling year basis exports to the US grew by four per cent to £2.77 billion.
This net result reflects a welcome recovery after a less buoyant period in early 2011.
The US is the UK’s top export destination with goods worth £13.4 bn (nearly 14 per cent of total goods exports) going to the US in the year to April.
Liz Basing, UKTI regional director, said: “The US is absolutely key to the export success of this region and the East of England in particular has many leading companies with their own special relationships.
“It’s fantastic to see the success of familiar names in Business Weekly – such as ARM, Abcam, Ubisense, Horizon and Owlstone – but it’s also worth bearing in mind that SMEs account for over £1 in every £5 of goods exports outside the European Union.
“The US can be a challenging market to crack but plenty of SMEs as well as larger companies are doing good business there. UKTI will be hosting an event on doing business with the US in the autumn.”
• PHOTOGRAPH: © Can Stock Photo Inc. / mblach http://www.canstockphoto.com
