The air cargo market in the East of England continues to show resilience, even as global trade faces headwinds.
Overall, 49% of exporters in the region boosted sales to existing markets between April and July, according to the latest UK Trade Barometer.
This is a survey conducted by MAG (the UK’s largest airport group, which owns Manchester, London Stansted, and East Midlands Airports) and The Growing Together Alliance.
Air Cargo Q2 Performance
Figures for the second quarter show a slight dip from 58% in the first quarter. Meanwhile, 37% of businesses ventured into new markets, down from 45% in Q1.
Despite this softening growth, the region’s exporters remain a vital force in the UK’s economy, leveraging air cargo hubs like London Stansted to connect with global markets.
The UK Trade Barometer surveys over 2,000 businesses, offering insights into their export performance over the past three months and their outlook for the quarter ahead.
Presence in International Trade
The data highlights the East of England’s strong presence in international trade, with the United States leading as the top existing market at 23%.
Germany and Australia follow at 8% each, with France at 6%. Emerging markets like Benin and China (4% each), Argentina (3%), Canada (2%), Switzerland (2%), and Austria (2%) also feature prominently.
For new markets, the US again tops the list at 19%, followed by Germany (8%), Australia (7%), and Belgium (6%). Brazil, China, France, Greece, Argentina, and Switzerland also attract exporters, each representing 3% to 4% of new market entries.
Broader Challenges
This performance reflects the broader challenges in global trade, including geopolitical tensions and economic uncertainty.
Yet, the East of England’s exporters remain active, supported by the region’s proximity to major air cargo hubs.
MAG’s airports, particularly London Stansted, play a critical role, with around 75% of UK businesses located within two hours of one of these facilities.
This accessibility enables companies to efficiently ship goods worldwide, reinforcing the region’s economic strength.
Leadership Perspectives
Gareth Powell, Managing Director of London Stansted, emphasized the importance of these connections. “Businesses in the East of England drive our regional economy and elevate the UK’s global presence. Despite international challenges, it’s inspiring to see exporters growing.”
“At London Stansted, our transformation program and plans to expand to 51 million passengers annually will further support local businesses by opening more markets and connecting them to new customers.”
The Growing Together Alliance, which includes groups like Cambridge Ahead, underscores the region’s global reach. Dan Thorp, CEO of Cambridge Ahead offered further insight.
“These figures highlight the East of England’s global economy, particularly in Cambridge, where innovation thrives on international connections. Airports like London Stansted are vital for maintaining these links.”
Conclusion
Nationally, 54% of UK exporters reported increased sales to existing markets in Q2, down from 63% in Q1, reflecting similar global pressures.
However, the air cargo market, especially in the East of England, continues to demonstrate adaptability.
With strategic investments in airport infrastructure and a focus on global connectivity, the region is well-positioned to navigate future challenges and sustain its role as a key player in international trade.