East Anglia: Region’s exports top �25bn in a year, says HMRC

RECORD exports from companies in the East of England have topped �25billion in 12 months, with the region accounting for nearly one-tenth of the UK’s total sales to the rest of the world.

Figures compiled by HM Revenue & Customs show that, in the year to the end of June, exports from the earern region totalled �25.47bn – an increase of 17.9% over the previous 12 months.

Sales by the region’s firms to other European Union countries accounted for the biggest slice of exports at �16bn, with the growth rate of 23.3% bettered only by London.

Exports from the region to non-EU countries in Eastern Europe doubled to �626million, sales to Latin America rose by one-third to �371m and exports to Asia and Oceania grew by 19% to �3bn.

Liz Basing, international trade director for the region at Government-backed UK Trade & Investment, 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 out-performing 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.

“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.”