Lloyds Bank comment on ONS UK Trade figures for November 2015
Andrew Charnley, head of trade and working capital finance for Lloyds Bank Commercial Banking, said:
“A second month of falling exports underlines the challenges British businesses are facing overseas at the moment, but all is not lost.
“Not only has falling demand for manufactured products not been outweighed by increasing demand for services, but our latest Business in Britain research also showed that the value of the pound was similarly having a negative impact on exports.
“But our research also found that a third of businesses are still expecting an increase in total exports in the coming six months, amid signs of a modest pickup in demand for British goods. Meanwhile, businesses’ overall confidence remains close to its record highs and above its long-term average.
“In certain sectors such as food and drink, for example, there is also high demand across the world for British brands and products.
“Supporting these businesses, and especially first time exporters, will be crucial if Britain is to boost exports and narrow the overall trade deficit.”