Over the past 20 years this region has successfully transformed its industrial economy into a growing knowledge economy with a strong focus on research and development in life sciences & health, energy and sustainability.
Only a few years ago the North East was one of the UK’s poorest regions. Today its economy is growing steadily, with good investment and rising productivity. There are many tech startups in the region.
North East
Economy
Total output (GDP), 2019 |
£64 billion |
GDP per head |
£24,068 |
Businesses
Number of businesses, 2020 |
154,300 |
Annual % change in businesses, 2020 |
-5.4% |
Import (2019)
- Value goods from the world: £12.5 billion
- Value goods from the Netherlands: £0.9 billion
- Main partners: European Union, Asia & Oceania, North America
- Main products: machinery & transport, manufactured goods, chemicals, miscallaneous manufactures, crude materials
Export (2019)
- Value goods from the world: £11.6 billion
- Value goods from the Netherlands: £1.3 billion
- Main partners: European Union, Asia & Oceania, North America
- Main products: machinery & transport, chemicals, manufactured goods, miscallaneous manufactures, food & live Animals