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Survey sees stronger exports

[ August 9, 2011   //   ]

UK exports are strengthening said a DHL/BCC Trade Confidence Index published on 8 August. However, difficult global economic conditions are still affecting their investment decisions and recruitment plans, the document added.

The survey is based on a survey of over 1,000 exporters and by analysing documentation for goods exported from the UK to non-EU destinations. Trade documentation data for the second quarter of 2011 shows a 3.6% increase on the same quarter last year, and is at its second highest level since Q3 2008. A biiger proportion of exporters also believed their turnover and profitability would improve over the next twelve months.

However, continued uncertainty about the Eurozone debt crisis, and the fragility of the UK’s economic recovery are hampering investment and recruitment plans and while resolve to invest in plant and machinery has recovered slightly since the recession, they still remain weak by long-term standards. In fact, exporters are less confident about investing now than they were in the first three months of 2008, immediately prior to the recession. Similarly, exporting firms’ plans to take on more staff in the next quarter are “anaemic”.

The survey also highlighted a shart regional disparity with far more export documents issued in London, South East and North West than in other regions such as North East England, Northern Ireland and Wales.