Trade statistics highlight severity of decline in West Midlands exports during recession

HM Revenue & CustomsThe latest UK Regional Trade Estimates released by HM Revenue & Customs (HMRC), show that the total value of goods exported from the West Midlands decreased by 12.5% to £14,352 million in the 12 months to June 2009, compared to the 12 months to June 2008.

The West Midlands recorded the largest decrease in exports of any English region over the one year period. Statistics for individual quarters indicate that the low point of the recession so far was recorded in Q1 2009, when the total value of exports from the West Midlands was estimated at £2,998m (down from £3,893m in Q4 2008).

Encouragingly, in the most recent quarterly data for Q2 2009 there was a modest increase in the estimated value of goods exported from the West Midlands to £3,182m.

However, the value of exported goods remained nearly 30% lower than that at the start of the recession in Q2 2008, when the figure stood at £4,495m according to the HMRC estimates.

More data (PDF, 155kb) relating to the UK Regional Trade Estimates can be found on the uktradeinfo website, provided by HMRC.

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