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UK Trade deficit widens for Jan

Neil Kuschel of DHL Express comments on UK trade figures released by ONS (Office of National Statistics)

Trade figures from the ONS indicate that despite a widening in the trade deficit in January, volumes of exports have increased (+2.2%) – a positive sign towards rebalancing the UK economy.

"However, with the uncertainty surrounding Britain’s main trading partner, the Eurozone, it is more important than ever that British businesses look to markets further afield - news of Brazil’s booming economy, now ranked sixth in world, is a great example of this.

"The opportunity to begin trading with Brazil is upon us, with figures showing the nation is ranked third highest in the world for its internet usage - making the e-commerce market ripe for profit for British exporters.

"E-commerce is driving economic growth worldwide and this is a great platform for UK businesses, especially nimble SMEs. With relatively low inventories small businesses are able to move quickly, taking up opportunities in foreign markets far more easily than larger companies. In order to boost growth further, British businesses must seize these opportunities and aim to become a nation of leading global digital shopkeepers.”

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Post Date: March 14th, 2012