Overview: In January 2021 Tyne exported £41.9M and imported £64.5M, resulting in a negative trade balance of £22.6M. Between January 2020 and January 2021 the exports of Tyne have decreased by $-2.29M (-5.19%) from £44.2M to £41.9M, while imports increased by £11.9M (22.7%) from £52.6M to £64.5M.
Trade: In January 2021, the top exports of Tyne were Scrap Iron (£8.15M), Other Electrical Machinery (£3.37M), Electrical Control Boards (£2.3M), Commodities not elsewhere specified (£2.28M), and Vehicle Parts (£2.22M). In January 2021 the top imports of Tyne were Large Construction Vehicles (£16.8M), Fuel Wood (£12.5M), Electric Batteries (£5.13M), Interchangeable Tool Parts (£3.9M), and Vehicle Parts (£3.23M).
Destinations: In January 2021, Tyne exported mostly to Mexico (£9.05M), Netherlands (£8.54M), Turkey (£7.99M), Japan (£5.9M), and Germany (£2.94M), and imported mostly from Japan (£35.4M), United States (£12.5M), China (£5M), South Korea (£2.06M), and Kenya (£2.06M).
Growth: In January 2021, the decrease in Tyne's year-by-year exports was explained primarily by an decrease in exports to Japan (£-2.42M or -29.1%), Russia (£-973k or -85.8%), and Norway (£-680k or -90.5%), and product exports decrease in Other Iron Products (£-1.56M or -88.4%), Electric Batteries (£-1.29M or -77.2%), and Prepr binder for foundry (£-683k or -63.4%). In January 2021, the increase in Tyne's year-by-year imports was explained primarily by an increase in imports from Japan (£20.5M or 137%), United States (£12.4M or 7.6k%), and New Zealand (£700k or 1.59k%), and product imports increase in Large Construction Vehicles (£14.6M or 648%), Fuel Wood (£8.51M or 215%), and Electric Batteries (£3.49M or 212%).