Cambridge and East of England exports from the UK’s ideas region hit £6.8 billion for the first three months of 2012.Regional exports to all overseas markets for the year to March rose to £27.6bn, an increase of almost 14 per cent on the previous year compared to a nine per cent increase for the UK overall.
Export figures year on year showed a small rise of £3m for the year to March 2012 against the year to December 2011.
Exports to EU countries fell by three per cent but this was offset by increases in exports to all other destinations, including a leap of 22 per cent in exports to sub-Saharan Africa.
Exports to the Middle East and North Africa were up by nine per cent and to Latin America and the Caribbean, by eight per cent. Last year’s recovery in exports to North America, including Mexico and the US – the region’s third biggest export market, looks to be stabilising.
UK Trade & Investment regional director Liz Basing welcomed the news. She said: “These figures show that the East of England continues to put on a great performance. The EU continues to take nearly 60 per cent of exports from the region and Germany is our number one destination for goods.
“It is difficult to envisage a time when our European neighbours will not be hugely important to our export business, but it is no surprise to see exports to the wider EU coming under pressure. East of England exporters are more than making up the difference by boosting sales to markets with higher growth potential.
“With the global spotlight firmly on the UK in the coming weeks, now is absolutely the right time to explore what less familiar markets have to offer and UKTI is here to help companies do just that.
“UKTI East will run trade missions this year to vibrant markets such as China, Brazil, Russia, the Gulf, India and Mexico. Closer to home, we are putting on a series of events to make the most of the talents to be featured at the British Business Embassy in Lancaster House, London during the 2012 Olympic and Paralympic Games.
“Companies in healthcare, advanced engineering, ICT, the creative sector and energy are invited to join us for a series of exciting events featuring broadcast content from the Embassy and inspirational local speakers.”
• Information about these events will be posted on http://www.ukti.gov.uk/pt_pt/export/unitedkingdom/eastofengland/events.html