The latest Quarterly International Trade Outlook (QITO) from the British Chambers of Commerce (BCC) and DHL shows that:
- The report’s Trade Confidence Index, measuring the volume of trade documentation issued by accredited Chambers of Commerce, rose by 1.4% in Q1 2016, compared with the previous quarter, to stand at an index of 116.04 in Q1 2016
- However, in annual terms there was a decline of 4.4% on Q1 2015
- During the same period, ONS data and the BCC’s Quarterly Economic Survey have shown that economic growth softened across the UK
Dr Adam Marshall, Acting Director General of the British Chambers of Commerce, said:
“Our latest analysis suggests that, despite efforts from businesses and government alike, we are not yet succeeding in transforming the UK’s export performance.
“There are a number of headwinds affecting our exporters, including a slowing global economy and major structural issues at home. Britain’s politicians need to focus on fixing the fundamentals of infrastructure, training and access to finance if we are to help UK firms to become more productive and competitive on the global stage.”