The value of goods exported by South West companies rose by 30 per cent in the first three months of 2017 compared to the same time last year according to figures from HMRC.

In the three months to the end of March exports from the region's companies reached £6.3billion, up from £4.8billion in the same period last year.

Exports to EU countries accounted for 42 per cent of the total value, followed by North America on 21 per cent and Asia and Oceania on 16 per cent.

Machinery and transport exports made the most significant contribution - 71 per cent of the total value - while miscellaneous manufactured goods accounted for 12 per cent.

The number of South West exporters rose from 9,758 in Q1 of 2016 to 10,295 in Q1 2017.

Commenting on the new figures, Tom Morgan (pictured), audit partner at audit, tax and consulting firm RSM in Bristol said: "The decrease in the value of the pound since last year's referendum has helped exporters and these figures show that the region's firms have been able to take advantage of this.

"Looking ahead, however, the outlook for exporters is less clear. Last week's election result has caused further turbulence in the political climate and businesses will no doubt be hoping for some early clarity on the UK's future trading relationships with Europe once the Brexit negotiations start in earnest."