Exports in the East Midlands rose by more than 20% in 2017 according to the latest figures published by HMRC. The national picture revealed that exports from England rose by 11.6% to £244 billion but the East Midlands was one of the bright spots in the UK outstripping the national average.
The East Midlands is home to over 10,000 exporters and the figures show an encouraging dynamism in our local economy with our regional companies taking advantage of the fall in sterling following Brexit. Our Trade Secretary Dr Liam Fox commented that “the UK is entering a period of unprecedented economic opportunity and the surge in exports adds up to a positive picture for the British economy”.
This is certainly good news for the East Midlands and flies in the face of some of the gloomy economic forecasts we have received from the Bank of England. When asked about the figures the Bishop commented - “I expect UK growth to remain modest at 1.5% in 2018 but I am confident that the East Midlands will show higher growth as it picks up the mantle from the South East and continues to benefit from the competitive value of the pound against the euro. With Jeremy Corbyn and his fellow comrade John McDonnell looming in the background we are seeing high levels of M&A activity with baby boomers choosing to bring their exit plans forward rather than risk a socialist government”.