UK firms win 16% more abroad

British construction companies last year won a record amount of overseas contracts.

Latest figures from the Department of the Environment show that new orders jumped 16% to œ3.2 billion. This increase builds on gains made in the previous year and the latest value of overseas contracts now stands 50% higher than it did in 1991.

Contractors also have a greater value of work outstanding - the œ3.4 billion tally is 14% higher than in 1992.

Environment Minister Sir Paul Beresford said: 'Most of the contracts were won against stiff competition in North America and the Far East but it is also encouraging to see signs of increased success in Europe.'

The biggest market for new contracts - North America - climbed by a quarter last year to œ1.2 billion. By contrast, the Far East fell by 13% to œ750 million, largely as a result of a decline in business in Hong Kong, down dramatically from œ720 to œ470 million.

New contracts worth œ400 million were won in the Middle East, while Europe produced a figure of œ270 million. Virtually all of this was generated within the European Union. Work in Oceania was worth œ230 million while African contracts had a value of œ220 million.

Five years ago, two thirds of the new orders won by British construction firms were in North America, with the market there peaking at œ1.6 billion in 1989. Today North America accounts for only a third of all overseas work.