Home British Chamber News Fall in sterling unlikely to provide quick fix to UK’s trade deficit

Fall in sterling unlikely to provide quick fix to UK’s trade deficit

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Commenting on the UK trade figures for September, published today by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

 

“The deterioration in the UK’s trade position in September was disappointing and although there was a slight improvement overall in the third quarter, the trade deficit remains significantly higher than the historical average.

 

“While the decline in the value of the pound is likely to provide some impetus to UK exporters, the lack of responsiveness of UK exports to other sterling devaluations in recent years suggests it is unlikely to provide a quick fix to the UK’s weak net trade position.

 

“It is therefore vital that the upcoming Autumn Statement is used to boost the level of export support for SMEs looking to trade overseas.”

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Andrew Mann
After 34 years working in numerous operational and communications disciplines for three FTSE companies (Yorkshire Electricity; Meggitt and BAE Systems), at over a dozen locations, on 24 November 2016, I became the inaugural editor of Business Lancashire. Business Lancashire is a good news, Lancashire focused, business website and daily newsletter. It is a partnership between The Samuel James Group and the North and Western Lancashire Chamber of Commerce. Over the years, I have written hundreds of press releases, features for trade magazines, copy for websites and brochures, edited in-house magazines and newsletters, as well as presenting a radio programme on Chorley FM. This experience has given me the ideal background for editing Business Lancashire.

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