The British Chambers of Commerce (BCC), in partnership with DHL, has launched its Quarterly International Trade Outlook (QITO) for Q1 and we are going to have a quick look at it and pull the best parts out.
The aim of the report is to give an insight into the confidence of British businesses that are trading internationally though the Trade Confidence Index and to provide an indicator of ongoing international trade despite the uncertainty surrounding politics. In general, businesses have confidence in an increase in profitability over the next year. In the exact words of Ian Wilson, DHL Express UK & Ireland CEO:
“Despite many unanswered questions about what a post-Brexit Britain will look like, this latest Quarterly International Trade Outlook demonstrates that UK exporters remain optimistic about what the future holds.”
Adam Marshall, the Director General of the BCC states:
"While confidence is high among UK exporters, rising costs, recruitment difficulties and currency fluctuations are a concern for many."
So all in all, there continues to be a strong argument to suggest that there will be growth in exports over the next year, however, there is still a few concerns relating to rising costs.
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Read the full Q1 2017 QITO here