Business in London and South East lead UK exports
West Midlands firms are the second biggest contributors to Britsh exports by any one region
Businesses in London and the South East are responsible for more than a quarter of all British manufactured exports, according to a study from manufacturer organisation EEF.
The report revealed that 24.5% of total UK factory exports originate from firms in the area, with 47% of exports going to countries in the EU – making London and the South East biggest export market in the country.
London and South East-based businesses also have the highest productivity in the manufacturing sector, with a productivity rate equivalent to 121% of the national average.
Companies in Greater London have the smallest manufacturing output for the whole of Britain, at just 8% compared to the national average of 18%.
Businesses in the West Midlands are the second biggest contributors to British exports by any one region, responsible for 12.1% of total manufactured exports.
Around 27% of exports from the West Midlands go to Asia, in comparison with 16% for the national average, while only 40% goes to the EU – the lowest proportion for any region.
Lee Hopley, EEF chief economist, said: “This report lifts the lid on the depth of regional diversity and the breadth of opportunity that a strong UK manufacturing base offers for local growth.”