The North East’s export performance saw a slight dip in Q2 of 2011 compared to the first three months of the year, but at a total of £3.112bn it was still our third highest quarterly figure.
And I’m delighted to say that our 12-monthly total is another record high of £12.904bn – 21 per cent higher than the previous 12 months.
The USA continued to be our biggest single market at £2.08bn, with Russia the fastest growing, with exports to that country increasing by a massive 177 per cent or £591m.
But we’re also seeing growth in other key markets, including China with £361.5m worth of goods exported there from the region in the last 12 months, a 7.2 per cent increase on last year’s figure. This now puts China in our top ten markets, as the ninth largest individual export market.
Many of the region’s companies have already recognised the opportunities that China offers and are working hard to exploit them and we now have more than 60 firms signed up as members of the new China Networking Club, coordinated by the UK Trade & Investment (UKTI) China Team in the North East.
The club meets informally every three months and provides an opportunity for members to network, mentor and learn from experts in the field of international trade with a particular focus on China. Guest speakers are invited to discuss current topics of interest and members can gain knowledge, not only from the speakers, but also from fellow members’ own experiences.
The club’s inaugural event at Durham County Cricket Club in July was a resounding success and we had some very positive feedback from those who attended. And we’re hoping to welcome more companies to sign up and join us at our next event – at Middlesbrough’s Thistle Hotel - later this month (28 Sept) so they too can help their business grow.
Look for them on LinkedIn or Twitter - at @China_ NCNE - to keep up to date on the latest developments.
12 comments
Comment by International Business Experts posted on
Great post, China really is a rapidly developing Market.
Working with UKTI some of our companies have organised technology transfer with the Chinese healthcare market. China is an area that we investigate for UK clients to find potential manufacturers, distributors, partners and investors. This really highlights their importance in the future of our sector and many others.
Comment by International Business Experts posted on
Great post, China really is a rapidly developing Market.
Working with UKTI some of our companies have organised technology transfer with the Chinese healthcare market. China is an area that we investigate for UK clients to find potential manufacturers, distributors, partners and investors. This really highlights their importance in the future of our sector and many others.
Comment by International Business Experts posted on
Great post, China really is a rapidly developing Market.
Working with UKTI some of our companies have organised technology transfer with the Chinese healthcare market. China is an area that we investigate for UK clients to find potential manufacturers, distributors, partners and investors. This really highlights their importance in the future of our sector and many others.
Comment by John Dobie posted on
As David indicates, export activity is one of the few success stories for the North East and long may it continue.
China has to be one of the most important growth areas, not only for this region, but for the country generally. Is it not reasonable to expect the Government to provide greater support for those companies seeking to develop into China and, indeed, other growth markets such as Russia, India and Brazil?
Comment by John Dobie posted on
As David indicates, export activity is one of the few success stories for the North East and long may it continue.
China has to be one of the most important growth areas, not only for this region, but for the country generally. Is it not reasonable to expect the Government to provide greater support for those companies seeking to develop into China and, indeed, other growth markets such as Russia, India and Brazil?
Comment by John Dobie posted on
As David indicates, export activity is one of the few success stories for the North East and long may it continue.
China has to be one of the most important growth areas, not only for this region, but for the country generally. Is it not reasonable to expect the Government to provide greater support for those companies seeking to develop into China and, indeed, other growth markets such as Russia, India and Brazil?
Comment by PJ posted on
Agree with the comments, but still John says the US is still the largest market? Sometimes there's a danger of overlooking this in our efforts to (rightly) capitalize on the growth rates of BRIC. Good post.
Comment by PJ posted on
Agree with the comments, but still John says the US is still the largest market? Sometimes there's a danger of overlooking this in our efforts to (rightly) capitalize on the growth rates of BRIC. Good post.
Comment by PJ posted on
Agree with the comments, but still John says the US is still the largest market? Sometimes there's a danger of overlooking this in our efforts to (rightly) capitalize on the growth rates of BRIC. Good post.
Comment by Lindsey posted on
Times are tough but apparently, China’s service industries expanded at a faster pace last month, rebounding from a deceleration in August, so that might ease concern the world’s second- largest economy is slowing...
Also, a purchasing managers’ index rose to 59.3 from 57.6 in August, driven by retail spending, the China Federation of Logistics and Purchasing said on its website yesterday. So China is definitely still on the rise!
Comment by Lindsey posted on
Times are tough but apparently, China’s service industries expanded at a faster pace last month, rebounding from a deceleration in August, so that might ease concern the world’s second- largest economy is slowing...
Also, a purchasing managers’ index rose to 59.3 from 57.6 in August, driven by retail spending, the China Federation of Logistics and Purchasing said on its website yesterday. So China is definitely still on the rise!
Comment by Lindsey posted on
Times are tough but apparently, China’s service industries expanded at a faster pace last month, rebounding from a deceleration in August, so that might ease concern the world’s second- largest economy is slowing...
Also, a purchasing managers’ index rose to 59.3 from 57.6 in August, driven by retail spending, the China Federation of Logistics and Purchasing said on its website yesterday. So China is definitely still on the rise!