Mids companies export most in UK
Businesses in the Midlands are more likely to export than any other region in the UK. According to research by trade credit insurance firm Atradius, the split between Midlands businesses trading domestically and overseas is almost equal with the 47 per cent of trade being exported.
The export figure is higher than any other UK region.
Trade statistics by Atradius suggest that 53 per cent of trade by Midlands businesses remains within the UK, with 26 per cent exported within the rest of Europe.
Nine per cent of the region’s companies trade with Asia, followed by 4 per cent in North America. Trading with the Middle East was at 3 per cent and Ireland, 1 per cent. The rest of export trade is broken down between Africa, Australasia, Eastern Europe and South America.
The analysis is based on the activity of 52 million companies worldwide.
Mary Ravenscroft, regional manager for Atradius in the Midlands, said: “Businesses in the Midlands are some of the biggest users of trade credit insurance because the region has a high concentration of high risk sectors. Because of the nature of these prominent sectors such as construction and automotive, businesses in the region have more scope to export their products and services than anywhere else in the UK and this is reflected in the high export figures.”
