Coventry is one of the top exporting cities in the UK, according to new figures, and the city’s’ business leaders are urging more firms in the region to trade overseas.
Research by the Centre for Cities saw Coventry ranked seventh in the whole of the UK for the total exports per job in 2017 – two places higher than London – with a total export value of £4.7bn.
The study ‘How do cities trade with the world’ also highlighted how Coventry was one of only a handful of cities outside of the South East to have both above average exports per job and above average productivity.
The study indicated that Coventry is less reliant on exports to Europe compared to other cities in the UK but is the second most reliant on China. Overall, 59 per cent of exports from the city were related to road vehicles.
The figures were welcomed by the Coventry and Warwickshire Chamber of Commerce’s International Trade Hub, which supports a range of firms in the city and the county with their exporting and importing.
It ranges from market visits and research – through its work with the Department of International Trade – as well as assistance in completing the necessary export documentation when goods are being shipped abroad.
Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “It is great to see Coventry performing so well according to this study, which focusses very much on cities in the UK and, therefore, doesn’t include Warwickshire.
“As a Chamber, we work with hundreds of companies on their overseas trade activity and businesses on this patch really do benefit from some incredible experience and expertise when it comes to global trade.
“Other research shows that companies that export have better survival and growth rates and we would encourage businesses of all sizes and sectors to look at some of the opportunities that are available to do business abroad.
“So while this study is very positive news for Coventry – and the wider region – we know there are more businesses out there that could be trading overseas and would urge them to find out more.”
The study findings come at a time when two Export Champions have been announced in Coventry to help promote the benefits of selling goods and services overseas.
Arquebus, based at Coventry University Technology Park, and Body Care Brand Development, based in Foleshill, both enjoy global success and are helping the Chamber’s International Trade team to encourage more companies to export.