The region’s exporters are feeling confident about their trade prospects for the year ahead, following a strong end to 2017.

Lloyds Bank’s latest Business in Britain report shows that a net balance of 19% of exporters are anticipating that overseas sales will increase over the next six months.

At the close of 2017, a net balance of 28% reported that their international trade had risen in the second half of the year.

Over two fifths (44%) of Yorkshire’s businesses currently export their goods or services – this is an increase of six points (38% six months ago) and is above the national average of 40%.

Regional director for Yorkshire at Lloyds Bank Global Transaction Banking, Simon Quinn, said: “Yorkshire exporters still see international trade playing an important role in their plans, despite the continued climate of domestic and international uncertainty.

“Judging from Yorkshire firms’ export performances over the previous six months, this confidence is not misplaced and by using international trade as a growth strategy for their business British firms can also manage risk during periods of uncertainty.”

Twenty-nine per cent of Yorkshire firms cite exchange rate uncertainty as the biggest barrier to exporting, followed by language and cultural barriers, then tariffs and quotas.

Looking at current overseas trading, the top three most popular territories for Yorkshire firms are the USA (28% of the region’s companies exporting here), Germany (13%) and France (9%).

Exporters in the region believe that, looking ahead, the biggest opportunities for international trade will be from Spain, the USA, China and India.