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Business News in County Durham

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North East outperforms rest of UK in exports

North East outperforms rest of UK in exports

International trade statistics show that the North East is outperforming the rest of the country on exports, according to the North East Chamber of Commerce.

Analysis of the statistics by the Chamber showed that 2019 exports are up on both the quarter (7.3 per cent) and the year (4.2 per cent), despite political and economic uncertainty around Brexit.

The Chamber also noted an increase in imports for the region - a 1.4 per cent rise on the quarter and a 13 per cent rise since 2018 Q1 - which it attributed “businesses stockpiling vital products, bracing for a worst-case scenario”.

Jack Simpson, policy adviser at North East England Chamber of Commerce said: “The North East continues to outperform the rest of the country but is under threat by political instability.

“Our own economic surveys show that global markets can be volatile, but prosperous. Political instability both at home and abroad has plagued exporting over the last year, but it is pleasing to see the North East has started the year on the right foot.