Export hotspots revealed
Businesses in Nottinghamshire and Derbyshire exported almost £11m in goods and services to Russia, the United Arab Emirates and Saudi Arabia in December 2010, new figures reveal. However, the total value of exports fell to £26.6m from £58.5m in the previous month.
The figures come from the Nottinghamshire and Derbyshire Chamber of Commerce's monthly 'Export Barometer', which calculates the value of exports processed by its international trade team. The chamber attributes much of the December slowdown to the lower number of working days in the month and the cold weather that affected delivery times for many exporters.
Sales worth almost £4.4m were processed to Russia, £3.5m to the United Arab Emirates and £3.1m to Saudi Arabia in the period.
Other "traditional" markets that showed growth in December included Turkey, South Africa and India. Turkey, the UAE and Japan topped the list of list of export destinations in the previous month.
However, the chamber said opportunities in China are "still to be realised by exporters in this region in China".
George Cowcher, chief executive of the Derbyshire and Nottinghamshire Chamber, said: "The latest figures from the Chamber’s Export Barometer once again show that many of our firms are engaged in strong and profitable trading relationships with partners in places such as Russia and the Middle East.
"It is particularly interesting to note that even with a shortened trading period because of Christmas and the adverse affects of December’s prolonged spell of bad weather, normal export levels were sustained in the UAE, Saudi Arabia and Russia, whilst the traditional markets of Turkey, South Africa and India reported steady growth.
"Similarly, we would expect Rolls-Royce’s recent success in securing a multibillion-pound contract with China will have a knock-on effect for local firms and create plenty of opportunities for our businesses to exploit."
Peter Hogarth, UK Trade & Investment’s international trade director for the East Midlands, added: "These figures are an indication to companies that there are plenty of opportunities overseas to grow their businesses.
"Growing economies, such as Russia, have businesses and consumers who want and can afford British quality design and products, which is good news for local firms."