Disappointing trade figures highlight need for relentless focus on boosting exports
09/03/10 | 11:06
Commenting on the January trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“These dismal figures may have been distorted by recent bad weather, but trends over the past three months show a disappointing pattern, with the volume of imports growing more strongly than exports.
“It is clear that the much-needed rebalancing of the UK economy towards export-led growth is not happening. Given the favourable global background for British exporters, with a competitive sterling exchange rate, our international trading performance is still weak.
“To strengthen Britain’s global trade, the government must do more to support our exporters, as many other countries are doing, and adopt measures to ensure adequate trade finance is available. It is critical to remember that business exports will be at the centre of any meaningful UK recovery over the coming year and beyond.”
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Media Contact:
Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
The January trade figures can be viewed here: http://www.statistics.gov.uk/hub/index.html
The BCC published a report today on export trade finance, which can be viewed here: http://www.britishchambers.org.uk/zones/policy/press-releases_1/government-must-do-more-to-support-an-export-led-recovery.html
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