- Exports from the Northern Powerhouse region have increased by 16.1% since 2010 (exports have increased from £12.8 billion in Q2 2010 to £14.9 billion in Q2 2018).
- Latest Q2 data for 2018 shows a quarter on quarter rise of 2.7% in exports from the region. Since Q2 2015, exports of goods have increased by 5.9%.
- Northern Powerhouse in a position of ‘strength’, says Northern Powerhouse Minister.
Official figures released yesterday (6 September 2018) show that the demand for goods made in the Northern Powerhouse has grown by 3.5% over the last year, and 16.1% since 2010.
Steady year on year and quarter on quarter growth in exports from the Northern Powerhouse shows the strength of the northern economy as the United Kingdom prepares to leave the European Union next March.
The combined value of all goods in Q2 2018 was £14.9 billion, £2.1 billion more than the same time in 2010.
Also, the value of goods on the quarter in 2018 rose from £14.5 billion in Q1 to £14.9 billion in Q2.
The figures also show that exports from across the Northern Powerhouse rose by £497million from Q2 2017 to Q2 2018.
Machinery and transport, chemicals and manufactured goods are the biggest exports from the Northern Powerhouse regions – worth a combined total of £11.2 billion.
Northern Powerhouse Minister Jake Berry MP, said:
These figures show that the Northern Powerhouse is delivering for exporters across the whole of the North of England. As we prepare for Brexit, the exporters of the North are rising to the challenge.
These figures prove that the feeling of optimism about our growing Northern economy I witnessed this summer as part of my tour of the North is real and creating jobs, wealth and growth across the region.
Yesterday’s figures from Her Majesty’s Revenue & Customs show the European Union is the biggest destination for northern exports, followed by Asia & Oceania.
Paul Harris, Director of Economic Development, Rolls-Royce, said:
It’s positive to see that there has been a rise in trade and exports in the Northern Powerhouse. Rolls-Royce employs 25,000 people in the UK, accounts for 0.7% of UK GDP and 2% of all UK goods exports. Trading internationally is vital to our global business and 80% of what we manufacture in the UK is exported around the world.
With sites in the North West, North East and Yorkshire and Humber, Rolls-Royce has a significant impact on the Northern economy employing around 2,000 people, supporting more than 25,000 jobs and spending more than £500 million with supply chain businesses.
Recent investments of over £160 million to modernise facilities in Barnoldswick, Lancashire and £130 million on a state of the art discs facility in Washington, Tyne & Wear demonstrates our commitment to the North and we are also committed to working with the government as Northern Powerhouse partners.