The ‘QITO’ report is designed to give British businesses a better understanding of international opportunities, with a focus on dynamic new markets. It also features a Trade Confidence Index as a measure of the UK’s exporting health.
In his foreword to the document, DHL Express UK & Ireland’s CEO Phil Couchman highlights that whilst overall Trade Confidence has not increased to previous levels, export orders have remained constant and UK businesses are resoundingly resilient.
“DHL remains confident in the underlying UK export market and will continue to support UK SMEs in expanding their businesses internationally, to help them to reach their full potential in the global marketplace.” Phil Couchman, DHL Express UK & Ireland’s CEO
John Longworth, Director General at BCC, further discussed the BCC’s promise to build a Global Business Network to help UK companies take their first steps in new markets.
British products remain in high demand across the globe, which is a great opportunity for UK businesses to expand their presence abroad.
Trade Confidence Index
The Trade Confidence Index stood at 115.53 at the end of Q3 2015. This represents a quarter-on-quarter decline of 4.6 per cent and a 1.2 per cent decline on the same quarter in 2014.
Britain’s regions and nations
Scotland saw an increase of 2.15 per cent in the third quarter. However, all other UK regions and nations saw a decline in their quarter-on-quarter performance.
Export Sales and orders
25 per cent of exporters reported that their export orders had increased in Q3 2015; 29 per cent reported an increase in export sales.
57 per cent of exporters expect profitability to increase over the next twelve months, whilst 28 per cent anticipate no change.
Trade and Economic Outlook
The global economic outlook has slightly weakened, but growth in advanced economies is expected to pick up.
The World Trade Organisation lowered its forecast for world trade growth in 2015 to 2.8 per cent and in 2016 to 3.9 per cent.
The British Chambers of Commerce forecasts UK exports to grow by 3.6 per cent and imports by 4.1 per cent in 2015. In 2016, UK exports are expected to grow by 2 per cent and imports by 1.5 per cent.
The 2015 Q3 QITO includes fact sheets for China, India, Myanmar and Thailand. Each fact sheet includes an economic snapshot, opportunities for UK businesses, market strengths, cultural tips and Customs tips.
Download the 2015 Q3 QITO here.