New research estimates nearly 43,000 jobs in Redditch are supported by exports.
Commissioned by the Department for International Trade and carried out by the Fraser of Allander Institute at the University of Strathclyde, the research underpins the importance of export-led jobs to the UK economy.
The research estimates that median wages in jobs directly and indirectly supported by exports were around 7% higher than the national median and that more jobs (3.7 million) are supported by exports to the rest of the world than to the EU (2.8 million).
The Office for National Statistics also estimates that goods exporting businesses are 21% more productive than those who do not. It supports the Government’s approach in pursuing an exports-led recovery from Covid and using free trade to boost industries – such as services, tech and renewables – that are key to building back better from the pandemic.
Researchers also looked into the number of jobs supported by nationally export intensive industries. It shows that in Redditch there were some 42,480 jobs in industries, such as manufacturing, that were export intensive at a national level in 2019.
“This shows how Global Britain will deliver jobs and growth here in Redditch.
“It also highlights just how many jobs in Redditch are linked to exports which is why the Government’s plan to strike more trade deals, boost our role as global hub for digital and services trade, and by pursuing policies that drive an exports-led recovery is so important.
“The opportunity we have as an independent trading nation is huge. We can do things differently and capitalise on defining trends like the emergence of Asia’s middle classes and rapid growth in the Indo-Pacific.”