Region saw value of exports fall

The latest HMRC data showed that in the fourth quarter of 2012 total exports from the region were worth £3.986bn, down from £4.003bn on the previous quarter.

Mark Robson, regional director for UK Trade & Investment, said: “The final quarter and year-end figures for 2012 should provide a degree of comfort in these challenging times when all you ever hear about is the demise of the eurozone and problems facing many global economies.

“The total value of our regional exports has not surprisingly fallen in that context, but there is promising growth in some regions and we have to use that as catalyst for a general upward trajectory.”

Despite the overall decline, he highlighted “significant gains in some regions”. Exports to Asia and Oceania were worth £1.912bn in 2012, compared to £1.690bn in 2011, and exports to Eastern Europe increased from £207m in 2011 to £264m in 2012. However, exports from the region to the EU were down to £8.152bn, from £8.698bn in 2011.

Machinery and transport equipment, mineral fuels, manufactured goods and chemicals remained the key export commodities for Yorkshire and the Humber, with America, France and Germany the top three markets.

The total annual value of UK exports for 2012 was £296.2bn in 2012, a 0.3 per cent increase on 2011. This compares to a 12.3 per cent rise between 2010 and 2011.