The decision to simplify the traffic light system in England will be very welcome news for businesses in the travel sector and beyond.
It assesses the percentage of UK exporters reporting a change in overseas sales, investment, and confidence. The data for the TCO is drawn from the BCC’s Quarterly Economic Survey (QES) – the UK’s largest independent quarterly business survey – which receives responses from around 2,500 exporters from across the UK, from all sectors and sizes.
The British Chambers of Commerce’s Trade Confidence Outlook for Q1 2021 reveals the stark issues facing UK exporters in the first months of this year. The survey of more than 2,900 UK exporters revealed that the percentage of firms reporting decreased export sales had increased to 41%, up from 38% in the previous quarter. The percentage of businesses reporting increased export sales fell to 20%, down from 22% in Q4 2020. 40% reported no change in their export sales.
These results illustrated the ongoing impact of the Covid-19 economic crisis on severely weakened business conditions, alongside the uncertainty that many exporters faced as the UK entered into a new trading relationship with the EU, as 41% of exporters reported decreased sales.
More optimistically however, 44% of exporters expected their turnover to increase over the next 12 months.
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.
Business will be frustrated by the inability of the Government to give them any detail around what circumstances could lead to new restrictions and what support firms could get.
Announcement of a delay is sensible given the ongoing issues with ensuring trader readiness, the need to build more border control posts and the skills shortages crisis.
The jobs market has continued its summer revival as demand for workers has surged following the easing of Covid restrictions. But record vacancies also highlight the acute hiring crisis faced by many firms.