Almost half of East of England exporters grew Q2 sales despite global tensions, according to UK Trade Barometer

• 49% of East of England firms trading globally grew order books, down from 58% in Q1
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• 37% of East of England exporters entered a new market in Q2, down from 45% in Q1 
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• Top 10 existing markets in Q2: US, Germany, Australia, France, Benin, China, Argentina, Canada, Switzerland, Austria 
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• Top 10 new markets in Q2: US, Germany, Australia, Belgium, Brazil, China, France, Greece, Argentina, Switzerland 

East of England exporters weathered the global trade storm well in Q2, despite growth softening amid a climate of geopolitical tensions.  

Latest findings from The UK Trade Barometer show 49% of East of England exporters increased sales to existing markets between April and July, down from 58% in Q1, while 37% entered a new market in Q2, compared with 45% in Q1.  

The Barometer – from the UK’s largest airports group and London Stansted owner MAG and The Growing Together Alliance of business groups – surveys more than 2,000 businesses about their export performance over the past three months and their expectations for the quarter ahead.  

In the East of England, the US was the most popular existing market (23%), followed by Germany (8%), Australia (8%) and France (6%). Benin and China were next (4% each), followed by Argentina (3%), Canada (2%), Switzerland (2%) and Austria (2%).  

The US was also the top new market for the region’s exporters (19%), followed by Germany (8%), Australia (7%) and Belgium (6%). Brazil and China were next (4% each), followed by France (4%), Greece (4%), Argentina (3%) and Switzerland (3%).  

There was a slight reduction in the number of businesses reporting export growth compared to Q1, reflecting the broader challenges in global trade and geopolitical uncertainty, but exporters remain active in key global markets.  MAG is the UK’s largest group of airports, owning Manchester, London Stansted and East Midlands Airports. Around three-quarters of UK businesses are based within two hours of one of its airports.  

Gareth Powell, Managing Director of London Stansted, said:

 "Businesses across the East of England play a vital role in driving our regional economy and showcasing the UK on a global stage. It’s encouraging to see so many exporters growing despite international uncertainty. At London Stansted, our exciting transformation programme and plans to grow to 51 million passengers a year will help local businesses access more markets, connect to more customers, and continue expanding globally."  

The Growing Together Alliance brings together business groups from across the UK regions, including Cambridge Ahead, among others.  

Dan Thorp, CEO of Cambridge Ahead, said:  

“These figures underline the truly global nature of the East of England economy and highlight the importance of the UK’s international trading relationships. Nowhere is this more evident than in Cambridge, where a world-leading innovation economy thrives on global connections provided by airports such as London Stansted.” 

At a national level, more than half of UK exporters (54%) increased sales to existing markets in Q2, despite ongoing global challenges, although this was down from 63% in Q1.  

TABLES - Key findings: East of England businesses look-back (last three months):  

• No forward-looking data for the East of England due to lack sample size 

  UK businesses look-back (last three months):  

  UK businesses next three months: