- Despite the pandemic, exports in the region have increased following a dip in Q2
- Goods worth more than £23.7m exported out of region in Q3 of 2020, compared to £14.4m in Q2
The latest export figures from the Mid Yorkshire Chamber of Commerce have highlighted that the region’s export economy is on the road to recovery as export sales gradually rise, despite challenging times across the globe due to the coronavirus pandemic.
Figures demonstrate that exports from the region in Q3 are significantly higher than Q2, when items worth around £23.7m were exported from across the districts of Halifax, Huddersfield and Wakefield, compared to £14.5m in Q2.
Wakefield’s export figures highlighted the biggest increase, where the value of goods exported almost doubled from the figures in Q2, from £5,548,308 to £10,078,780.
During June, July and August this year, £10,078,780* of goods were exported from Wakefield to regions including Turkey, Saudi Arabia, the UAE, Egypt, Australia, Qatar, Kuwait and India. July was particularly productive, with a total value of goods exported of more than £4.470,295*. Textiles was the most widely exported commodity, followed by chemicals and food.
In Huddersfield, the value of overall goods exported in quarter three equated to £7,051,726* while Halifax recorded a figure of £6,569,803*. In both regions, figures for Q3 were similar to those recorded in Q1.
Huddersfield businesses exported machinery, other manufacturing equipment, chemicals and textiles in significant quantities to the UAE, Egypt, Russia and Turkey, with goods also going to India, Kuwait, Oman, Algeria, and Saudi Arabia.
In Halifax, companies sold metal products, chemicals, textiles and food to various locations including China, the UAE, Turkey, Saudi Arabia, Chile, India, Egypt, South Africa and the USA.
The results mirror the latest Quarterly Economic Survey carried out by the Mid Yorkshire Chamber and West & North Yorkshire Chamber in partnership with the Leeds City Region Enterprise Partnership, which highlighted that businesses are slowly gaining confidence across the region as they adapt to new and innovative ways of working.
Leah Quarmby, Export Hub Supervisor, said: “It’s reassuring that the region’s export economy is gradually getting back on its feet. The Q3 figures have demonstrated that exports are on the rise, and although they’re not has high as Q1, they are certainly heading in the right direction, following a slight dip in exports in Q2, which was largely down to the global pandemic.”
Martin Hathaway, managing director of the Mid Yorkshire Chamber of Commerce, added: “It’s encouraging to see that the region’s export figures are on the rise and that businesses within the region are slowly recovering despite the many challenges resulting from the pandemic.
“Companies, however, shouldn’t get too complacent, as the deadline for Brexit is just around the corner. Firms that export to the EU need to ensure they are ready for changes on how to import and export from the EU that will come into effect on 1 January 2021. We strongly advise that businesses across the region access support and advice from our My Export Hub team to ensure they are prepared and compliant.”
For guidance on how to prepare for the change in export documentation from 1 January 2020 click here,https://www.gov.uk/government/publications/how-to-import-and-export-goods-between-great-britain-and-the-eu-from-1-january-2021
My Export Hub is the international trade support arm of the Mid Yorkshire Chamber of Commerce and has been supporting businesses with international documentation for export more than a decade.
For further information, please visit: www.myexporthub.co.uk.
*According to exchange rates on 22 October 2020