Export growth drops
Export growth has fallen, a report by British Chambers of Commerce (BCC) and DHL suggests.
Export orders have remained consistent among 54% of businesses and 50% report steady sales.
However, both are at their lowest level since Q2 2009.
The latest quarterly report finds that confidence over turnover and profitability have worsened.
13% of businesses reported a fall in turnover in the third quarter of 2015, while 16% are expecting a further fall in profits
Findings from the report:
- 21% of businesses reported a decrease of export sales
- 54% of business say exports have remained consistent
- 22% reported a decrease, up from 17% in Q2.
John Longworth, director general at the BCC, said:
“Driving export growth is key to reducing the UK’s deficit and maintaining our global competitiveness. These figures make it clear that the UK’s export drive is at risk of going into reverse gear, precisely at the time when it needs to be moving forward.”
Phil Couchman, CEO at DHL Express UK, said:
“We would encourage businesses not to let the latest figures knock their confidence in the export market. There is enduring high demand for British products across the globe and businesses should capitalise on the opportunities this demand brings.”
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