Brexit: Shropshire exports booming after EU vote

Export orders are pouring in as Shropshire firms cash in on the post-Brexit fall in the pound.

Shropshire Chamber of Commerce today provided an upbeat assessment of the county’s economy.

There were fears that uncertainty caused by the Brexit vote would hamper business.

But figures released today show that businesses using the Chamber’s export documentation service received orders from overseas worth £39 million between the start of the new financial year on April 1 and the end of November.

The boost regionally is being matched nationally. Latest figures show that exports of goods rose by £2.1bn to £26.8bn in October.

Businesses around the county have responded to the weaker pound with export plans.

Christopher Greenough, director of Shrewsbury-based Salop Design, said: “The pound is still down against the Euro and the Dollar, and this is resulting in real chances for our companies to maximise sales to foreign shores.”

And thermal insulation specialist Seymour Manufacturing International has moved to new premises and has revealed it is in talks to set up new trading links with Saudi Arabia and Russia.

Figures compiled in our county are not exhaustive as they do not include businesses that exported without using Shropshire Chamber support, but they demonstrate the value of overseas markets to the county’s economy.

They also suggest that exports have thrived since the Brexit vote.

The collapse in the value of sterling since June 23 is thought to have affected UK-based businesses by increasing the cost of importing raw materials, while making their own goods more attractive to overseas buyers because they cost less when converted into dollars or euros.

Richard Sheehan, chief executive of Shropshire Chamber of Commerce, said the figure also reflected a long-term effort to improve exports.

“The groundwork that has been going on for some time is really starting to pay dividends,” he said.

“The Shropshire business community is grasping the opportunity presented to it by the worldwide market.

“We are seeing more and more new companies getting involved in exporting.

“The currency situation is helping to make that happen all over the world. It’s not just within the EU.

“As people are getting more familiar with trading with many partner countries across the world, that will help us deal with whatever the fallout from Brexit will be.”

The documents also show that 25 businesses using the Chamber’s service exported for the first time during the seven-month period, drawing in sales worth just under £10 million.

Mr Sheehan added that the £39 million figure also represents a return of £174 for every £1 spent on the export support service in Shropshire, and that the growth was worth £7.6 million for each of the service’s export advisers.

The Department for International Trade’s export advisers are based in branches of the British Chambers of Commerce around the country.

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Comments for: "Brexit: Shropshire exports booming after EU vote"

patbillchapman

We are doing well economically as a leading member of the EU. The foolish idea of Brexit should be quietly forgotten.

value for money

Just goes to show post Brexit the country has made the right choice now is the time for everyone to unite and make a sure we get a full Brexit.

Roger

I'm still not sure we made the right choice. I do understand how the drop in the value of the pound will help some but it is the uncertainty that caused the drop in the pound. I suspect if it all works out the price of pound rise and that will cancel out any trading advantage but not necessarily make us uncompetitive.

I think we have to wait and see but I'm not pessimistic, I think we can survive out side the EU and staying in may have disadvantages. Just wait and see???

Damocrat

Of course exports are booming with the value of the pound as it is. The problem is that we are a net importing economy.

Severnsider

Time to buy British !

Damocrat

Unfortunately, much of what we import we either don’t or can’t manufacture, grow or have as a natural resource. For instance, petrol and diesel prices are on the rise due to the lower level of the pound and that has an effect on all items that have to be transported. Many items that are made in Britain have parts that are imported and assembled here which are now more expensive. And if there were to be tariffs following Brexit, UK firms would have to pay both to import parts and export finished goods.

trb

The percentage increase in the £ value of exports is smaller than the percentage fall in the value of the £. So we'll earn fewer euros and dollars to pay for our imports. How can this be a good thing?

methuselah

Even the past Governor of the Bank of England claims that Brexit was the right decision now that he doesn't have an 'axe to grind' for theGovernment, so long that it's totally out.

Cunning Linguist

I thought Brextremists didn't trust 'experts'?

PJS

Only when it suits them. The rest of the time they'd sooner listen to a bloke down the pub, no matter how drunk...

Eurealist

We trust experts in their own field like surgeons or airline pilots but many of those trooped out during the campaign were not experts in the EU and no one is an expert on the subject of leaving the EU.

We are also faced with an EU financed academic world where they are more interested in protecting their income streams than anything else.

But the point is those who were used by Project Fear are now having to reassess their original claims because the predictions have not come true, that perhaps is why we do not respect so-called experts who are available for hire.

johnfrederick

PJS Having ago at the working class again but should be happy next month when your film comes out ?

Cunning Linguist

You surprise me, I thought you were the expert on the subject of leaving the EU.

Perhaps the pound isn't worth 20% less than before the referendum with costs rising, plaster it on the side of a bus and people might believe it.

Eurealist

Nope! never claimed to be I can only argue that there is a way of both leaving the EU and protecting the economy but it requires give and take from both sides.

Making snide remarks, attempting to make the worst possible case and reverse the referendum result does not help, as was proved from project fear, which failed to convince.

One might have hoped you folks would have learned your lesson? Because the way we are going is leading to a hard exit and a fulfillment of the dire warnings.

Cunning Linguist

'Making snide remarks' - as opposed to advising those with a different viewpoint they 'should just shut up'?

What part of 'give and take' does that come under?

Eurealist

As I said you are not arguing a different viewpoint you are attempting to reverse the democratic decision of the British people. That is an anti-democratic state of mind, you had your chance to convince the voters and had every advantage in promoting your viewpoint, you failed so dramatically.

Even though you lost the vote you continue to make the exactly the same arguments, you have simply transferred the goal from remain to a soft exit in the hope of remaining attached to the EU and a later reversal.

You are therefore making it far more likely that the argument for a hard exit will win the day because we do not trust you or your intentions.

Cunning Linguist

And advising people to 'just shut up' isn't anti-democratic?

The argument that those who voted to leave are in any way interested in any form of compromise on anything other than a hard Brexit is either delusional or disingenuous.

Trust? I wouldn't trust May, Johnson, Davis and Fox as far as I could throw them. As for UKIP, I believe they will do and say anything to promote a complete severance with the EU regardless of any consequences.

Eurealist

I am advising not attempting to force my viewpoint and reverse the result after a referendum there is a difference.

I am not certain about May but agree with the point about the others they are the ones who will use the moves to reverse the result as ammunition to force a hard exit. The mood music until recently has bee promising.

If we can agree to accept the result of the referendum then we can try to agree on the best way to achieve that that without damage to the economy if we cannot agree accept the result then we really have no way forward that does not damage the economy.

Cunning Linguist

You were, on another article, arguing that those who supported remain should shut up.

I have, as everyone else, to accept the result of the referendum. However, that doesn't mean that I cannot voice my opinions in the same way that Farage stated he would should the leave side lose. His viewpoint seemed to be that, should he lose, he would continue on until he won. I don't see the difference.

Damage to the economy is now inevitable as the leavers want a complete severance regardless and the remainers haven't got the political clout they used to have. Get used to a gradually reducing economy and a poorer standard of living.

Eurealist

I disagree, damage to the economy is not inevitable because we do not know what the eventual deal will be or if there will be a transitional agreement.

It is not about deals but about time to make those deals and by your constant bickering and attempting to reverse the result you are just making it harder to sell time to those who voted leave. You are telling them loudly and clearly, we want to ignore your vote and make you take it again, so you are the ones who are forcing the issue of a hard exit and making it much more likely.

Cunning Linguist

What part of 'I have, as everyone else, to accept the result of the referendum' did you not understand?

The right wing of the Conservative party seems to be calling the shots. Together with UKIP, they are pressurising the government into complete severance from the EU.

I note you still refuse to acknowledge your anti-democratic missive that those who wished to remain should just shut up - on the eve of the referendum, Farage stated that he would call for a re-run should the result be the reversed.

Jett

It’s only a few short months since the vote to leave the EU, but already we can see the potential for Britain, now we can finally give our country back to British companies run by British business leaders we can trust, such as Philip Green and Mike Ashley of Sports Direct.