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Record low for UK manufacturing exports

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Between April and June, the Trade Index was at a new low of 34.6 for new manufacturing exports, a decline from 46.8 in the first quarter of 2020. The fall in exports is the lowest since the financial crisis in 2009, when exports were at 38.8.

Readings below 50 signal a reduction in export orders, while readings above 50 indicates growth.

The vast majority (93%) of manufacturers reporting a downturn in export orders attribute it to the impact of Covid-19, saying that it has resulted in shrinking demand, widespread business closures, and delays to export projects.