Disappointing trade figures reinforce need for relentless focus on boosting exports
13/05/10 | 11:09
Commenting on the March trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce, (BCC) said:
“These figures were much worse than expected, with exports recording a decline on a monthly and quarterly basis. Longer-term comparisons show exports rising considerably slower than imports.
“It is clear that the much-needed rebalancing of the economy towards export-led growth is not happening. With a competitive exchange rate, the UK’s international trading performance is still too weak.
“Businesses urgently need short-term trade finance support, so that our exporters can get their goods and services out to the global market as the recovery continues. We must remember that business exports will be at the centre of any meaningful UK recovery over the next few years.”
Ends
Media Contact:
Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
ONS: http://www.statistics.gov.uk/cci/nugget.asp?id=199
For more information on the BCC’s Trade Campaign click here.
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