Exports from North East top £10bn

Overseas exports from businesses in the north-east of England have topped the £10bn mark for the first time.

The figure for 2003 is the equivalent of £4,000 per person and £4.5m per exporting company.

More than half of the exports were within the automotive, pharmaceutical and chemical industries.

John Williams, UK Trade & Investment's International Trade Director, said the North East had proved it could compete on the world stage.

Based on Customs and Excise statistics, the figures revealed the region had a positive trade balance of £2.6 bn, compared to a national trade balance of minus £47 bn.

'Spreading the risk'

They also show the region is becoming less dependent on the EU, with the percentage of our exports going to the EU falling from 78% to 61%.

Mr Williams said: "This means we are not only exporting more, but also to more markets, thus spreading the risk.

"At the same time, around 62% of our exports are within three sectors - automotive, pharmaceuticals and chemicals. We want to build upon the success in those areas and broaden the range of industries involved in international trade.

"Our exports to the accession countries in 2003 was £250m - 45% to Poland and just over a quarter to the Czech Republic - and now they have joined the EU there is even more scope for increased trade with these countries."