New data at a City Region level has been commissioned by Leeds City Region Enterprise Partnership for the very first time.
The research shows the City Region’s international trade was worth an estimated £9.75bn in 2015, 67% of the total value of goods exported in Yorkshire and the Humber.
Chief executive of Bradford, and Leeds City Region Enterprise Partnership (LEP) lead chief executive for business, innovation and growth Kersten England, commented: “This provides a snapshot in time demonstrating how important exporting is for our economy and for businesses individually. It also allows us to better target our resources through investigating specific market opportunities and to find out if there is more demand for certain products.”
Organic chemicals, medicinal and pharmaceutical products and general industrial equipment are in the top three categories, accounting for over 40% of the City Region’s total exports.
At a district level, the largest contributors to the value of exports are Leeds at £4.1bn, Bradford at £1.6bn, Wakefield at £1.3bn and Kirklees at £1.3bn.
Chairman of the LEP’s business, innovation and growth panel, Andrew Wright, said: “It’s really useful this research has been done; whilst it shows we trade most with North West Europe it also demonstrates the demand and opportunity beyond EU markets. The best way to create the future is to make it, and it is clear that Leeds City Region businesses are doing just that.”
The report provides understanding of the key factors behind Leeds City Region’s role in national exports. It indicates that with the most potential for Leeds City Region include: China, Hong King, Japan, Mexico and Canada.
The latest trade Statistics for Q1 of 2017 released by HMRC reveal that in the year to March 2017, the UK export value increased by 11%, with a rise of 7.6% in Yorkshire and the Humber.