Commenting on the latest Quarterly International Trade Outlook published today (Thursday) by the British Chambers of Commerce (BCC) and DHL, Alan Welsh, Policy Manager at the North & Western Lancashire Chamber said:
“Whilst it is disappointing to see a slight fall in the trade confidence index in Q2, it should be noted that Chambers are continuing to process export documents at near record levels, suggesting that there is a healthy flow of shipments from the UK to export destinations around the world.
“The results of our latest Quarterly Economic Survey have been encouraging for exporters and show that Lancashire firms have enjoyed increased export sales and orders in the first half of this year. However, despite this solid performance exporters are keeping a watchful eye on volatile exchange rates, rising inflation, and ongoing skills shortages.
“The government must work with business to strengthen practical on-the-ground support for UK firms that need a helping hand to get into new markets and reach new partners, including face-to-face advice and support. Revitalising the UK’s trade missions and support for businesses to attend trade fairs, as well as expanded front-line assistance, would help get more of our businesses trading competitively on the global stage.
The BCC/DHL Trade Confidence Index (TCI) is a measure of the UK’s exporting health. By analysing trends in the volume of trade documentation issued by accredited Chambers of Commerce, the TCI provides insight into the UK’s trade with countries outside of the European Union, particularly high growth markets such as Asia and Africa.