The North East increased its export figures from Quarter 2 (April – June), up from the previous quarter, figures in line with the majority of other regions.
Further good news was the North East also retained its consistently strong trade surplus, currently standing at £1.26bn for the year so far, the only region to consistently produce one. As part of these figures EU exports saw a substantial 10.5% increase from the same period last year.
Ben Powick, policy adviser, the Chamber said: “Looking at the results overall, I think the region can be cautiously optimistic. Our EU exports remain strong and once again make up the bulk of our exports in this quarter, accounting for nearly two thirds (65.1%) of our total goods exports.
“We welcome that non-EU exports have seen an increase from the previous quarter.
“With regard to any possible impact from the EU referendum, as there has been no changes in our arrangements and there is unlikely to be any for some time, it is far too early to draw any conclusions.
“But whatever the case, we will continue to campaign to make sure our exporters can make the most of international opportunities. The essential support provided by the new Department for International Trade will be key to this.”