Exports from the West Midlands are on the increase, having grown by over 100% in the past five years, according to figures from HMRC. While growth in exports from all other English regions have slowed down this year, growth in the West Midlands has surged. The area is likely to outperform London in 2014. Only the South East of England will sell more to the world. Machinery and transport are the biggest sellers, accounting for 71%.
There is little doubt that the West Midlands’ recent export success has been powered by a few big manufacturers. The leading light is Jaguar Land Rover. During its last financial year, the company posted revenues of £19.4bn, up from £9.9bn in 2011. According to UKTI, about 20% of everything which the UK exports to China is from Jaguar Land Rover.
Its success can be attributed to the fact that, while other UK exporters have been hampered by the global recession and problems in the Eurozone, the Midlands-based car manufacturer has been taking major strides into rapidly growing markets such as China.