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The latest Trade Confidence Index from DHL and BCC shows there was an increase in UK exports during the first quarter of 2012. The index, which draws upon a survey of more than 1,000 exporters, shows that during Q1 there was an almost 8% increase (7.7%) in UK goods exports compared to the same quarter last year. When asked about export activity during the first three months of the year, 40% of businesses said they had seen an increase in sales. When asked about expected export activity for the future, 39% predicted an increase in export orders for the next quarter. Last year was challenging for many firms, according to previous Trade Confidence Index research, due to high input prices for oil and other commodities. However, the latest survey shows that the price pressures are easing; and this, combined with lower inflation, could make 2012 an easier year for many exporters. The balance of firms reporting increases in export sales and export orders in Q1 this year rose to levels last seen in Q4 2010. John Longworth, director general of the British Chambers of Commerce, said: “At the end of 2011, there was a huge amount of uncertainty surrounding the eurozone sovereign debt crisis and its impact on UK firms. But the beginning of 2012 saw some semblance of calm retuning which has translated into greater confidence and activity among UK exporters. “Export orders and sales rose strongly in Q1, and documentation returns are the highest on record. While it is too early to say this represents the start of a strong recovery, it’s fair to say that it is a reason to be optimistic, in contrast to some of the most recent economic data.” Other Business Money News
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