GROWTH in exports from West Midlands companies will continue during 2014 - further strengthening the UK's economy, UK Trade & Investment has said.
Paul Noon, UKTI's regional director for the West Midlands, said there would be a continued focus on working with more partners to ensure SMEs and larger companies were able to take advantage of new opportunities overseas.
Noon said the encouraging GDP data - which showed a 0.7% rise in Q4 2013 and a 1.9% growth rate for the year as a whole when compared with 2012 - was evidence of an improving trend.
"The last year has seen a dramatic rise in the export of goods from the West Midlands. In 2012-2013, the region exported goods worth £22,640m," he said.
"Already this year, (2013-2014), exports from the region have reached £19,350m. This fantastic success is being led by the likes of JLR and JCB but with many smaller companies contributing to the continued improvement in our export figures.
"We are confident this trend will continue, especially with an increased effort on working with a wide range of local partners and encouraging more mid-sized businesses (MSBs) to improve their export efforts."
To underline its support for regional business, he said UKTI had trade visits planned to key markets during 2014, including the United States, UAE, China and Brazil.
Data released by the Office for National Statistics showed output increased in three of the four main industrial groupings within the economy in Q4 2013 compared with Q3 2013. Output increased by 0.5% in agriculture, 0.7% in production and 0.8% in services.
However, the construction sector continued to struggle - down 0.3% over the period.
Steve Brittan, managing director of BSA Machine Tools in Birmingham, is a strong advocate for export-led growth. A message he conveyed during his term of office as president of the Greater Birmingham Chamber of Commerce in 2012/13.
Reacting to the latest GDP figures, he said: "90% of our business is export as a result of the competitive exchange rate following devaluation of the pound against the dollar at the start of the financial crisis.
"The recent statement by Mark Carney of interest rates not increasing in the short term and being linked to employment figures has given stability for businesses to invest and consumers to spend.
"We have seen enquiry levels increasing in the home market. It is important as we see the economy improving we do not jeopardise recovery by a lack of skills in the workforce and rising energy costs. Security, access to finance and cost of the UK energy supply is crucial in aiding industries confidence to invest long term."
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