Hopes high for exports (From Gazette & Herald)

Hopes high for exports

EXPORTS from Yorkshire are slowing down, but hopes for a change in fortunes remain high.

The county has experienced the lowest rise in exports nationally over the last six months, according to the latest Business in Britain survey from Lloyds TSB Corporate.

Yorkshire firms have had a weak six months compared to the rest of UK firms, with only 30 per cent of companies reporting an increase in exports and 35 per cent reporting a fall. These figures compare to a national average of 45 per cent and 18 per cent respectively, showing a more positive picture for the UK as a whole.

However, the next six months appear to be more promising for Yorkshire exporters, with 43 per cent expecting exports to rise and only 13 per cent expecting them to fall. National figures show 47 per cent predicting an increase over the next six months.

Yorkshire's importers, though, tell a different story.

Fifty seven per cent of Yorkshire firms enjoyed higher imports over the last six months compared to just nine per cent who reported a fall. This compares favourably with UK firms who experienced, on average, just a 47 per cent increase with 15 per cent reporting a fall.

But over the next six months importers in the region are not so confident of maintaining an increase and only 39 per cent of firms expect to buy more goods from abroad while 13 per cent expect to buy less. The UK, on average, expects things to stay reasonably steady however, with 46 per cent predicting a rise in imports.

Geoff Lloyd, regional international manager at Lloyds TSB Corporate said: "As the UK suffered weak sales and orders during the second half of the year, so Yorkshire companies' export performance also suffered.

"It is reassuring to see that they are fairly confident about the months ahead, and their export intentions are in line with national predictions of a strengthening of the UK economy, however there is still some local belief that in Yorkshire we will continue to see difficulties."

Updated: 14:40 Wednesday, March 29, 2006