12.3 C
Manchester
Thursday, September 18, 2025
InternationalDecade of exports sees North West firms secure £5.5bn from Japan

Decade of exports sees North West firms secure £5.5bn from Japan

North West firms have demonstrated significant appetite to expand into the Japanese market in recent years, with more than £5.5bn of goods exported into the region in the last decade, according to analysis by Deloitte.

Research from the business advisory firm, in partnership with MIDAS and GMCA, reveals that between 2010 and 2019, North West firms exported an average of £550m per year to Japan as the region aimed to strengthen trading relationships. In total, four years saw figures in excess of £650m, with 2012 exports the highest during the decade at £795m.

As part of this trading relationships have been strengthened across a wide range of sectors. Chemical products accounted for the highest, with the £3.4bn worth of exports during the decade representing 62 per cent of total trade. Behind this, machinery and transport (£1.3bn) and manufacturing (£765m) also saw significant interest.

Interest in manufacturing products especially has continued to grow year on year, with 2019’s figures the highest since 2014, which saw £780m of goods exported.

The UK has also demonstrated its commitment to building on this valuable trading relationship in recent months, agreeing the UK-Japan Comprehensive Economic Partnership Agreement in September 2020. Across the country, the deal could increase trade by £15.2bn, giving a £1.5bn boost to the economy and increasing workers’ wages by £800m.

Japan has been a key area of focus for Deloitte in the North West for a number of years. In 2018, Global Employer Services Partner Jo Ahmed was appointed as the Honorary Consul of Japan in Manchester, while the firm has hosted annual Japanese Business Dinners celebrating the links between the two areas since 2011.

Jo Ahmed said: “Japan represents an enormous growth opportunity for many businesses in the North West, both in terms of direct exports and ongoing collaboration and joint ventures. As we have seen, there has been a huge amount of appetite and investment from Japanese businesses in North West products, which has brought with it significant economic benefits for the local area.

“With Japan’s wealth of experience in the low carbon sector, the country represents a hugely valuable partner when it comes to meeting Greater Manchester’s ambitious carbon neutral targets by 2038. We have already seen inward investment focused on Clean Growth, with a consortium including Kansai Electric Power taking a 50 per cent stake in Electricity North West in July last year.

“This, coupled with the UK-wide free trade agreement, highlights the opportunities that Japan presents to the region’s businesses, and we expect to see both export and import figures grow as this relationship develops in the coming years.”

Latest

Tees Valley International Film Festival to Premiere “3 Peaks 3 Pots” This November

The eagerly awaited documentary 3 Peaks 3 Pots will have its first screening on 6 November 2025 at ARC Stockton, marking one of the...

The green fleet: Sourcing affordable EVs at car auctions

The used electric vehicle market is experiencing unprecedented growth across the UK, with government data showing that zero-emission vehicles accounted for 20% of all new car...

Timberwise Boss Reveals Five Costly Issues Buyers of Older Homes Should Know

A leading voice in property care has revealed the five most widespread and expensive issues that often arise when people purchase older homes. George Edwards,...

K2L Marketing Strengthens Global Footprint with New Offices in Dubai and Illinois

Manchester-based performance marketing agency K2L has announced the opening of two new international offices, one in Dubai and the other in Illinois, USA. This...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

Tees Valley International Film Festival to Premiere “3 Peaks 3 Pots” This November

The eagerly awaited documentary 3 Peaks 3 Pots will have its first screening on 6 November 2025 at ARC Stockton, marking one of the...

K2L Marketing Strengthens Global Footprint with New Offices in Dubai and Illinois

Manchester-based performance marketing agency K2L has announced the opening of two new international offices, one in Dubai and the other in Illinois, USA. This...

Timberwise Boss Reveals Five Costly Issues Buyers of Older Homes Should Know

A leading voice in property care has revealed the five most widespread and expensive issues that often arise when people purchase older homes. George Edwards,...

FREESMO Leads the Way with Smarter Smoke-Free Choices Through Trusted Questionnaire

As the smoke-free sector continues to grow and diversify, FREESMO is highlighting the importance of its Smoke-Free Questionnaire – a tried and tested tool...

More News

Incspaces Has Announced €1M Investment in Barcelona Office

incspaces, a leading provider of flexible workspaces, which is part of Inc & Co Group, announced global expansion plans, which will see new locations...

Watch Sevilla vs AS Roma Live Stream TV Channel Watch UEFA Europa League Final 2023 in the UK (Anywhere)

In a nail-biting showdown that kept fans on the edge of their seats until the final whistle, Sevilla emerged victorious against Roma in the...

London Company Established by Fire Safety Innovator, Ismail Cem Iyitoglu, to Export Latest Technology Worldwide

Esteemed industrial engineer and entrepreneur, Ismail Cem Iyitoglu, has expanded his fire engineering business to London. Iyitoglu's company has already established itself as a...