EXPORTING is helped Yorkshire manufacturing firms defy the recession, according to business advisory firm Deloitte.
Despite the economy lapsing into a double-dip recession in 2012 fewer manufacturing firms have entered into administration this year, thanks in part to a 30% increase in Yorkshire exports to Asia over the past 12 months.
Simon Manning, head of manufacturing at Deloitte in Yorkshire, said there were 208 manufacturing administrations in the first three quarters of 2012 – down from 250 in same period in 2011. At the same time the number of retail insolvencies increased year on year.
Deloitte said the improvement was in part due to the manufacturing sector’s growing success in export markets beyond the eurozone.
Office for National Statistics figures show Yorkshire exports to Asia and Oceania rose from £387m in the second quarter of 2011 to £505m this year.