Bath area businesses are helping the South West buck the national trend for exporting, with the value of overseas sales from the region rising while the national figure decreases.
Data released yesterday by HM Revenue and Customs shows that the value of UK exports decreased by 2.6% to £285bn in the year to the end of June.
But the figure for the South West climbed by 5.6% to £14.5bn. The number of firms exporting from the region also increased over the year.
The national figures are a blow to the Government’s aim of having 100,000 more companies exporting in 2020 than in 2010. It has already backpedalled on its earlier target of achieving £1 trillion in exports from the UK by 2020.
Increasing exports is seen as vital to the future success of the UK economy, particularly for the manufacturing sector as it struggles to emerge from its deep recession. Exporting firms are traditionally more innovative and profitable.
The strong performance in the South West was welcomed by Business West, which runs Bath Chamber of Commerce and which has launched its own campaign – #GetExporting – to get 2,020 businesses exporting more by 2020.
The South West has traditionally been the UK’s worst-performing region for exports – partly due to its large proportion of small businesses and its distance from foreign markets. However, concentrated efforts over recent years to encourage more firms to sell products and services abroad have led to sharp increase in exports.
As part of #GetExporting, a shipping container designed by Bath-based creative marketing agency Mr B & Friends and spray-painted by a pair of Bristol street artists, is touring the region to showcase products from local firms that are being sold across the globe, including firms taking tea to China, cheese to France and cider to Australia.
Business West managing director Phil Smith said: “Yesterday we saw a welcome boost for the international profile in the South West, with the total value and number of exporters on the up despite a national decrease. This shows us that the world loves West Country products, with an increasing appetite for the goods that local firms are creating day-in, day-out.
“Our region lags behind the rest of the country but these figures show that we are catching up. However we know there are many firms out there who are not aware of the support available to tap into international markets.
“They will be watching this news wondering how to get involved. To these firms we say come and take the advice available at UK Trade & Investment who can help at every stage of the export journey. In addition Business West can assist with the often complex international trade documentation – ensuring you get paid for your goods.
“Expanding overseas is really worth considering as research shows that successful export businesses achieve greater growth and higher profitability.”
In February Business West was awarded the contract to run the Government’s UK Trade & Investment (UKTI) services in the region for a further five years.
The South West’s top export markets by value over the past year were Germany, France, the US, Ireland and Italy.