LONDON: 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.”
