BCC Director General Dr Adam Marshall comments on the government's extension of the Job Retention Scheme until the end of September 2021.
It provides data on exporter sentiment for sales and confidence drawn from businesses from all sectors and sizes across the UK, as well as changes in the volume of trade documentation processed by the Chamber of Commerce Network.
The continuing global pandemic, coupled with the ongoing uncertainty of the UK’s departure from the European Union, makes current and future trading conditions very difficult for business.
The first 6 months of 2020 have been an extremely challenging time for businesses trading both overseas and domestically, according to the largest independent survey of UK firms, released by British Chambers of Commerce.
The impact of Coronavirus has been felt at all stages of supply chains across every sector.
Exporters continued to tread water through the final quarter of 2019 according to the largest independent survey of UK firms, released by British Chambers of Commerce and DHL Express.
BCC Quarterly International Trade Outlook for Q3: Manufacturing exporters report stark drop in sales and orders
A majority of UK manufacturing exporters are reporting a stark worsening in sales and orders, with indicators showing a substantial drop compared to 2017 and 2018 levels.
Many UK exporters are treading water at a time of deep uncertainty, according to the latest Quarterly International Trade Outlook from the British Chambers of Commerce, in partnership with DHL.
The survey of 3,400 exporters found nearly two-thirds (63%) of manufacturers report exchange rates as a concern to their business, indicating the pressure from sterling volatility.
More UK exporters are reporting a decrease in orders in the opening quarter of the year, with cashflow and confidence dipping too according to the latest Quarterly International Trade Outlook from the British Chambers of Commerce, in partnership with DHL.
The report based on the responses of over 3,400 exporters shows that one in five manufacturers (23%) and service firms (20%) saw their export order books decline in the first three months of the year – the highest for both since Q2 2017 when records began.
The percentage of both manufacturing and services exporters who are expecting to increase their prices has risen in the past three months, as international traders struggle with the value of the pound and pressure from the cost of raw materials and other overheads, according to the latest Quarterly International Trade Outlook from the British Chambers of Commerce, in partnership with DHL.
The report, based on a survey of over 2,600 exporters, and export documentation data, shows that nearly half (49%) of manufacturers and 39% of services companies plan to raise their prices, up from 41% and 34% respectively.
It’s a time of considerable change and turbulence for many UK’s exporters. The uncertainty of Brexit continues to weigh on many, as does currency fluctuations and global trade turmoil, which can dent confidence for firms trading goods and services across borders.
That said, UK businesses are resilient, and many exporters continue to perform strongly in the current circumstances. Confidence in turnover is strong but concern over exchange rates remains high in light of sterling volatility.
BCC Director General Adam Marshall comments on the BEIS Select Committee report, ‘The impact of Coronavirus on businesses and workers: Interim pre-Budget report’, published today.
Results from the latest British Chambers of Commerce survey, in partnership with moneycorp, found that while 44% of UK exporters to the EU plan to grow their exports to the European Union, nearly a quarter (23%) are looking to either reduce their activity in the EU or have no activity at all in the next 12 months, following the ratification of the UK-EU Trade and Co-operation Agreement. Two-thirds of UK businesses are looking to increase activity in the domestic market.