East Midlands firms need to take advantage of export opportunities in the New Year if they want to grow, according to Peter Hogarth, International Trade Director for UK Trade & Investment East Midlands.

Latest statistics to the end of September 2010 show that export of manufactured goods fell by 3.3% in the East Midlands compared to the same period in the previous year. Nationally there was an increase of 12.2% and an increase of 25% in the West Midlands.

Peter Hogarth said:

"Companies like Re-Ball Ltd of Hinckley have just confirmed a €1.7million order, showing why they won UKTI's new exporter award, and Mercian Cycles, Derby who won the category for innovative exporter for increasing exports by 250% in 12 months, are an inspiration to local companies looking to expand their business next year.  

"Local businesses need to recognise that they are falling behind other parts of the country and that there are clearly plenty of opportunities overseas to grow their businesses because others, like Re-Ball Ltd and Mercian, are doing so."  

Peter Hogarth's forecasted export growth areas for 2011

• Exports to Asia, including the likes of China and India, continue to grow rapidly, meaning opportunities for substantial growth for East Midlands businesses in 2011.  Quarter three 2010 sales were 28% higher for Asia than in the same period the previous year for the East Midlands; the Middle East & North Africa were up by 16%; Latin America by nearly 17%.  

• BRICs go beyond Brazil, Russia, India and China into the likes of Malaysia, Korea, Indonesia. These are growing economies with ever increasing numbers of businesses and consumers who want and can afford British quality design and products. These countries are brand conscious, fashionable and interested in trying new things. 

• The EU remains a £90bn market - the largest for UK goods - so plenty of opportunities for new companies given the competitive value of sterling.  However, with the current economic climate, this market is unlikely to grow in 2011 overall but we are well placed to take a greater share.

• USA sales continue to grow. They are already higher than in pre-recession times. Like the EU, this is a highly competitive market, open to new ideas and new products.

• Biggest export increases nationally are in manufactured goods, machinery and transport - the areas where East Midlands excels.  

• In 2011 we will see emda shrink and the importance of the Local Enterprise Partnerships (LEPs) grow. There will be changes in the delivery of business support and UKTI is not unaffected by budget cuts. But our high quality and extremely effective service to exporters will remain. We will continue to help thousands of East Midlands firms to grow by selling their goods and services overseas.  

Peter continued:

"Across the East Midlands, we have the products and services that are in demand - for example Derbyshire is the centre of high tech manufacturing.  This is good news as there are more rail projects happening in the world right now than ever before as countries have to develop their infrastructures in order to boost the economy or even to maintain their levels of domestic growth. 

"Yet for some reason our businesses are not making the most of the opportunities that are out there and our competitors are clearly benefitting.  

"Not for many years has there been more emphasis placed by Government on the importance of export sales to the prosperity of the nation and the country and we can help local firms to make these sales. We have plenty of events for East Midlands businesses to get involved in throughout 2011 and are able to offer help and advice to any companies out there which are looking to expand."