Export growth in the West Midlands has slowed as global conditions had a knock-on effect to overseas sales.
The region exported £6.7 billion worth of goods in the third quarter of the year, up slightly year-on-year but down from £7.1 billion in the second quarter .
However, the region still leads the way with a 11.2 per cent rise to £28.4 billion between September 2013 and September 2014 and was recently identified as "disguising export failure" elsewhere in the country.
The region’s export statistics fell in line with a slight UK-wide decline, amid ongoing economic concerns in the European Union and some emerging nations.
Exports to non EU markets are now equivalent to 60.8 per cent of West Midlands exports and it remains the only region with an export surplus with China .
UKTI Regional director Paul Noon said: “These figures show our exports are continuing to rise overall in comparison to last year which is excellent news for the region. So far this year, the West Midlands is £1.4 billion up on where we were this time last year, equivalent to 7.3 per cent growth.
"Compared to figures from the previous quarter exports are down £383 million, but this is the usual seasonal nature of the statistics which cover the summer period when many companies carry out maintenance works.”
Export statistics released by HMRC show the value of exports from the West Midlands for the first three quarters of 2014 at £20.9 billion. This is almost 10 per cent of the national total, which currently stands at £212.6 billion and West Midlands is second only to the South East in terms of export value.
Greg Lowson, president of Birmingham Chamber of Commerce said: “Today’s figures show how strongly the West Midlands is performing in exporting. The region has some serious players that export quality goods across the world, especially in the fields of advanced manufacturing and aerospace.
“We have also seen a major increase in exports to longer haul destinations such as Asia and the Middle East, and with the recent runway extension, Birmingham Airport plays a crucial role for firms looking to get their products and services to these regions.”
“The West Midlands is a crucial element in the government’s target to get exports to £1 trillion by 2020, and services such as UK Trade and Investment play a significant role in unlocking the export potential of local companies.”