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14 September, 2011 - 14:31 By Tony Quested

East of England exports top record £25bn

Liz-Basing

Exports from companies in the East of England of the UK have hit a new high, topping the £25 billion mark in the last year.

The ideas region of the UK and Europe account for almost one pound in every 10 of UK sales to the rest of the world, according to new figures released by HM Revenue & Customs.

In the 12 months to the end of June, exports from the East of England reached £25.47bn, an increase of 17.9 per cent year-on-year.

Exports to the European Union rose by 23.3 per cent over the same period - to £16bn - with only London showing a faster rate of increase.

The figures also reveal big year-on-year rises in exports to Eastern European countries outside the EU (doubling to £626m), Latin America (up by a third to £371m) and Asia and Oceania, which saw an increase of 19 per cent to £3bn.

Liz Basing, UKTI's International Trade Director for the region, said: “Businesses from the East of England excel at exporting and 2011 is poised to be a record-breaking year. This achievement is clear to see - whether in trade with our European neighbours or in our most distant markets.

“Closest to home, the East of England is outperforming every region outside London in trade growth with the European Union. On the other side of the world, we have never exported so much to the fast-growing economies of Asia.

“The facts show why we put so much effort in to promoting trade with countries like China, Japan and India.

“We have been working flat-out to stimulate interest in Asia, the world's increasingly important economic powerhouse, and our East Meets East competition brought out some cracking ideas from companies in the East of England on how to break into new and lucrative markets.

“We will be working closely with the winners - PPI Engineering from Norwich, IMC Group from Letchworth and Anglia Ruskin University - to develop their ideas.

“But UKTI is here for any company of any size or sector, wherever they are based - we provide invaluable advice and practical help so your business can make a mark on the global stage. Everyone really can be a winner.”

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