Business group: our exporters grow to match global demand

Lauren Fedor
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The majority of British exporters saw their sales grow last year, according to a new report out today from the British Chambers of Commerce (BCC).

Fifty-nine per cent of businesses sending their goods overseas recorded sales growth in 2014, according to the survey.

Just over one-third of exporters had such strong growth last year that they needed to expand their production capacities in order to meet international demand, the survey found. Only three per cent of respondents said weak demand forced them to reduce capacity.

But despite the growth reported by most firms, the survey also found that few new businesses had joined the fray. Nearly two-thirds of respondents said they had been trading internationally for more than a decade. Only six per cent said they had been exporting for two years or fewer.

BCC director general John Longworth said while he was encouraged by the results, politicians need to do more to support new exporters and close Britain’s trade deficit.

“As the election debate rages, Britain’s political parties have failed to set out how they will address the export challenge,” Longworth said.