Exports in the Q3 from the north west have grown by 14.2 per cent or £786m against the previous three months. Figures released by HM Revenue & Customs show that £6.32bn worth of goods were sent overseas from the region in the three months to September.
The Company, founded in 1950 and part of JD Hughes Group Plc., is Europe’s largest manufacturer of Emergency Safety Showers and Eye wash Equipment. Now, it is preparing to explore previously untapped markets in South America as well as expanding its presence in South East Asia and the Far East.
“Brazil would make an ideal base from which to develop our business in South America,” says Managing Director Tony Hughes. It’s an exciting prospect but also quite a challenge as they expect some manufacturing content within the country from foreign suppliers. We’ve just attended a trade mission with the Engineering Industries Council to explore the opportunities first hand.”
Responding to the figures, Dr Brian Sloan, Chief Economist at Greater Manchester Chamber of Commerce, said: “Exports in the North West regained a lot of the ground lost in Q2 of this year, but remain subdued mainly as a consequence of economic conditions in the Eurozone. The trend in exports is largely reflective of demand for chemicals from the region.
“It is pleasing to see that although exports have not yet fully recovered all the ground lost, every export destination by global region has registered an increase in volume over the quarter, despite the weakness of the Eurozone. There were sizeable increases in exports to North America and Eastern Europe, though challenges lie ahead with the US fiscal cliff and risks to exports remain.
“Yesterday’s announcement by the Chancellor of the Exchequer that he is effectively reversing much of the 25% cut to the UK Trade & Investment (UKTI) budget that he previously made and introducing a £1.5bn fund to support firms to export, is welcomed by the Chamber. We have made repeated calls for more export support and a reinstatement of the UKTI budget so British businesses can access and trade with new and emerging fast growth markets.”