Britain struggles to move towards export-led growth
09/12/09 | 12:09
Commenting on the October trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“The October trade deficit was broadly as expected, and the reported growth in exports was a positive feature. However, imports continue to grow more rapidly than exports, and it is clear that the much-needed rebalancing of the UK economy is not happening.
“The underlying background - with Sterling competitive and recovery emerging in our main trading partners - provides opportunities for British exporters.
“To take advantage of this, the Government needs to support our exporters more effectively, as other countries are doing, and must take action to ensure that trade finance is readily available.”
Ends
Media Contact:
Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
Trade and Enterprise forms one of the key campaign priorities for the BCC. Over the coming months, we will campaign for the political parties to commit to policies that make it easier for businesses to begin trading and ultimately expand into foreign markets.
ONS figures for the UK’s trade deficit can be viewed here: http://www.statistics.gov.uk/cci/nugget.asp?ID=199
The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.