Improvement in export volumes must be nurtured
09/06/10 | 10:58
Commenting on the April trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“Although these figures may be slightly distorted by the volcanic ash disruption in April, the underlying position shows a modest improvement after disappointing figures from March. But, there is no room for complacency, and the much-needed rebalancing of the economy towards exports needs to accelerate given the obstacles facing the UK economy in the years ahead.
“While the competitive sterling exchange rate is a helpful factor, weaknesses in the eurozone will pose serious challenges for Britain’s exporters.
“Since exports must be put at the centre of any meaningful UK economic recovery, it is important to nurture the modest improvement seen in these figures. The Chancellor’s Budget provides an opportunity for the new government to show its commitment to boosting exports. Businesses urgently need support for short-term trade finance to make it easier for them to get their goods and services onto the global market.”
Ends
Media Contact:
Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
1. ONS: http://www.statistics.gov.uk/cci/nugget.asp?id=199
2. For more information on the BCC’s Trade Campaign please click here.
3. You can view the British Chambers of Commerce’s report on export trade finance 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