Ministry of Housing, Communities & Local Government
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Post-Brexit economy will help Merseyside trade with the world

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HM Treasury

Chief Secretary to the Treasury, Liz Truss visited Liverpool to highlight a booming export economy.

Highlighting the latest figures that show goods exports from the North West of England were worth £27.8 billion in 2016, up by nearly £1 billion on the previous year, the Chief Secretary to the Treasury reaffirmed today (24 January) the government is committed to a post-Brexit economy that gives Liverpool even more opportunity to trade.

A buoyant export market has been vital in helping to grow to the local Liverpool economy which is now worth more than £30 billion – up nearly 12% since 2010.

This strong export economy is fuelled by the continued importance of Liverpool Port with latest figures showing nearly 32,000 tonnes of traffic pass through the port.

Latest figures show that export goods from the North West of England to North America were worth £5.1 billion. The largest export destination from the North West of England is Europe, with goods worth more than £14.6 billion being shipped to the rest of the continent.

The Chief Secretary to the Treasury, Liz Truss said:

From machinery to medicine, Liverpool has a vibrant export industry with world-class products being sent to Europe, USA and afar. I’ve seen that first hand today visiting a world-class local business exporting cutting edge technology.

With trade forming such an important part of the Merseyside economy, the government is hugely committed to ensuring its businesses are even more competitive than ever before after Brexit as the UK prepares for independent trade deals.

The impact of this is more jobs and a stronger economy for people in Merseyside.

Northern Powerhouse Minister Jake Berry said:

Northern exporters, innovators and creators are thriving within the globally competitive Northern Powerhouse economy.

As a government, we’re doing all we can to create a business-friendly environment to support British manufacturing in Liverpool, Manchester, Sheffield and throughout the Northern Powerhouse region.

These latest stats are a testament to the resolve, determination and hard work of Northern businesses and to what we can achieve through working together.

Successful exports mean the North West of England economy was valued at more than £166.5 billion, according to latest figures. This represents more than 8 per cent of UK total output.

At the Autumn Budget the government announced that Liverpool City Region would receive £134 million from the new Transforming Cities Fund. Funding will be invested in transport projects, which drive productivity by improving transport links around the city and reducing congestion.

Channel website: https://www.gov.uk/government/organisations/ministry-of-housing-communities-and-local-government

Original article link: https://www.gov.uk/government/news/post-brexit-economy-will-help-merseyside-trade-with-the-world

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