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BCC: Improvement in April trade figures welcome, but longer term trend shows inadequate progress

• The UK trade deficit in April 2015 was £1.2bn, down from £3.1bn in March 2015
• In April 2015 there was a deficit of £8.6bn on goods, partly offset an estimated surplus of £7.4bn on services
• In the 3 months to April 2015, the goods deficit worsened with exports falling more than imports

David Kern, Chief Economist of the British Chambers of Commerce, comments on the latest trade figures for April published today by the ONS:

"Monthly trade figures are notoriously volatile but today's significant improvement is nonetheless very welcome, but there is no room for any complacency. The longer term trend still shows a worsening in the trade position in recent months. It is clear that we are not making enough, sustained progress in closing the trade gap.

"We have consistently called for this to be a key national priority for the government. We need to see a programme of measures to support exporting businesses and those who have never traded overseas, but are considering doing so.

"We need to ensure that our exporting businesses can compete on a level playing field with their competitors and, to help them do so, they need better access to finance. We also need to see greater focus on encouraging medium sized businesses to export and to increase their penetration in growing markets outside Europe."

Last modified on Wednesday, 10 June 2015 09:40

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