Exports from the West Midlands are set to outpace those of European powerhouse Germany within five years, as the region’s manufacturers tap into the appeal of a “Made in Britain” stamp for Asian buyers.
According to an Ernst & Young report, exports from the region will increase 8.1 per cent a year by 2017, compared with 0.3 per cent for the UK and 2.3 per cent for Germany.
Most economists say the outperformance in the West Midlands is part of the “Jaguar Land Rover effect”, with the region’s largest manufacturing company forecast to sell 100,000 cars in China this year.
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