Against a background of unstable stock markets and Eurozone chaose, the confidence of UK exporters rose during the second quarter of the year, according to a new survey by the British Chamber of Commerce. However, export orders and confidence are not rising as fast as in the latter quarter of 2010 or the first quarter of 2011.
Exporters are tending to delay investment and recruitment, due to the economic outlook. The survey used data from over 1000 exporters and analysed export documentation (required for exports outside the EU.)
Trade documentation data in Q2 showed a 3.6% increase on the same quarter last year (and was at the second highest level since Q3 2008), which suggests that companies’ export sales continue to grow.
The Director General of the British Chambers of Commerce, said: “Ultimately, while business needs to play its part, so does the government and so do financial institutions.”