West Midlands exporters struggle to fight slowdown
WEST MIDLANDS companies were among the worst affected by a slowdown in exports at the end of last year, while sales growth remains fragile.
The Trade Confidence Index, which is produced by the British Chambers of Commerce (BCC) and DHL, showed the biggest decline in export document volumes was in the West Midlands, which had a 7.5% fall.
Manufacturers struggled, with the balance of firms reporting improvements in export sales and orders falling significantly in the final quarter of 2015.
John Longworth, director general of the British Chambers of Commerce, said: “British exporters have faced considerable challenges in recent months. Slowing growth in China and the US, along with the continued weakness in the Eurozone, have made it harder for firms to build momentum.
“While the rate of growth has dropped significantly, exports are continuing to grow – a testament to British businesses, particularly in the face of such global uncertainty.”
Among manufacturers, the balance of firms reporting improvements in export sales over the previous three months fell from +10% in Q3 to just +1% – the lowest level since Q3 2009 – while export orders dropped from +10% to +1%.
Export growth also dipped in the services sector, where the sales balance fell three points to +15%, and export orders fell to +9% from +16% – the lowest level since Q4 2011.
