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Uncertainty saps business confidence in exports

Uncertainty saps business confidence in exports

Describing today’s trade figures from the ONS, David Slater, Director of Trade at KPMG

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Describing today’s trade figures from the ONS, David Slater, Director of Trade at KPMG UK said:

 

“Overall the last 12 months have been a buoyant time for UK’s exporters.  However, in the final run up to Brexit, with a stronger pound and uncertainty around the UK’s future trading relationship now sapping business confidence, export volumes in both goods and services fell in the first quarter of this year.  Warnings about using UK suppliers issued by the European Commission earlier this year won’t have helped confidence in British exports either.

 

“An increase in the export of UK services is highlighted as having helped narrow the overall trade deficit over the last 12 months, underlining the importance of our service sector as a key driver of economic growth.  Going forward, policy makers will want to prioritise services in any Free Trade Agreement.“

 

 

 ENDS

 

For media enquiries, please contact:

 

Emma Murray, KPMG corporate communications

T: +44 (0) 20 7694 6506

E: emma.murray@kpmg.co.uk


 

Follow us on twitter: @kpmguk

 

KPMG Press Office: +44 (0)207 694 8773

 

Notes to Editors:

 

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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