Global Export trade shows upturn

LOCAL manufacturers showed a boost in export trade with a number of businesses breaking through into new overseas markets. Mark Smith, r...


LOCAL manufacturers showed a boost in export trade with a number of businesses breaking through into new overseas markets.

Mark Smith, relationship director, Barclays Corporate, Peterborough, was commenting on the latest Office for National Statistics (ONS) trade figures which showed the UK’s seasonally adjusted deficit up from £1.2 billion in December to £1.8 billion in January, with exports 2.2 per cent higher and a rise in imports of 1.8 per cent.

Mark said: “Here in Cambridgeshire, we are also seeing an uplift in export trade amongst our manufacturers with a number of clients breaking into new markets far and wide from our neighbouring countries in Europe to the BRIC countries and even further afield.

“Quality of product, competitive terms and bespoke orders being the differentiators. There still remain a number of challenges including input price stability and under investment, but generally the outlook and order books are favourable and improving.”

Nationally, a corner appears to have been turned amongst UK exporters, with some growth in developing markets and the US recovery helping to increase confidence in the UK.

Mark added: “While 2012 is not going to be a vintage year for growth in UK trade, particularly with subdued consumer confidence both at home and particularly in Europe, it is certainly looking to be an improvement on 2011.

“There remain some major risks to global trade however, particularly around the impact of an oil price that is that already being inflated by tense global geopolitics.”

Source: peterboroughtoday.co.uk
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