The UK service sector’s export sales and orders are at record levels, the British Chambers of Commerce (BCC) has said.
At the same time, manufacturing is growing consistently, the BCC’s survey for the first quarter has found. Nevertheless, the UK’s recent economic growth might be short-term, BCC chief economist David Kern said.
“Investment and exports must play a larger contribution to our economic future, or else there is a risk that our recovery could stall,” he said.
On Monday 7 April, Chancellor George Osborne announced further measures to help boost British exporters.
In a speech to business leaders in Rio de Janeiro, he said that £6m would be invested in boosting the number of trade advisers to medium-sized firms. Banks which lent to exporters under the UK Export Finance scheme would be able to take those loans to the Bank of England to raise additional finance.