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BCC: Export growth continues

Posted: 8th November 2011

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UK exports have continued to grow during the third quarter, although the pace of the growth has slowed, according to the second DHL/BCC Trade Confidence Index, a survey of more than 1,000 exporters.

Trade data for UK goods exports in Q3 2011 shows a 3% increase year on year, and 3% on the previous quarter. Although the UK’s exporters are still performing well and the trend of growth in exports continues, trade documentation data in Q2 2011 showed a 3.6% increase year on year.

Commenting on the results, John Longworth, director general of the British Chambers of Commerce (BCC), blamed the growth slowdown on uncertainty around the UK’s recovery combined with the eurozone debt crisis.

He said: “Order books have weakened, confidence in increasing turnover has softened and exporters’ desire to expand workforces is muted.

“There are some great examples of British SMEs exporting goods and services across the globe, but we need more of them, and that relies on more support and trade finance.

“If we’re to see the rebalancing of the economy that we need for recovery, British businesses must be encouraged to take risks and seek out new markets, particularly those outside Europe.

Longworth urged the Chancellor George Osborne to use his Autumn Statement to deliver confidence to existing exporters and help encourage new ones to dip their toe in international waters.

Phil Couchman, CEO of DHL Express UK and Ireland, said the results of the second DHL/BCC 2011 Trade Confidence Index highlight that we cannot underestimate the challenges ahead for exporters, particularly in light of the serious problems facing the eurozone, which remains a major trading partner for small businesses in the UK.

“Steps must be taken to support those looking to target overseas markets, particularly SMEs, who are less able to ride the trends of the economic cycle than their larger counterparts.

“Now is the time for businesses to expand internationally; with our collective support we can help SMEs exploit the global opportunities open to them, and in turn rebalance the country’s economy.”