A survey of over 2,700 UK exporters
has revealed that export sales growth has been effectively stagnant for the
past year.
The BCC’s quarterly Trade
Confidence Outlook showed the proportion of exporters reporting increased
overseas sales to be unchanged from Q4 at 29%, while those reporting a decrease
rose 1 point to 25%.
The data showed that manufacturers were more likely to report increased
export sales than either business to business service firms (such as lawyers or
accountants) or business to consumer service firms (like online clothing stores).
Conversely, B2B service exporters were more likely than either manufacturers
or B2C service exporters to expect profitability to increase in the coming
year.
Responding to the findings, Head of Trade Policy at the British Chambers of
Commerce, William Bain said: “This data confirms our concerns – that for the
last year there was a broadly flat picture for UK exports. This is in contrast
with the performance of our near neighbours, with Germany’s exports both within
and outside the Single Market steaming ahead by double digit margins and with
trade losses from the pandemic already effectively recovered.
“UK exporters are facing the headwinds of higher red tape costs from trading
with the EU, raised raw material pressures, and ongoing issues in global
shipping markets. If we are to realise the aspirations of the UK Government’s
Export Strategy then 2022 has to be the year where these structural factors
holding back our exporters are addressed.
“Sustained export growth should be powering our economic recovery from the
pandemic. Chambers and their members are already working hard to increase
exports but need more substantive measures from Government now.”
