QITO Q2 2018 | UK-Africa trade relationships | US GDP growth

Posted on 7/09/2018 by DHL Express

Quarterly International Trade Outlook for Q2 2018

The British Chambers of Commerce (BCC), in partnership with DHL, has produced its Quarterly International Trade Outlook (QITO) for Q2 – April to June – 2018.

The findings of the latest QITO report shows that despite a slight decline on the previous quarter, export sales and turnover confidence were buoyant in the second quarter of 2018.

In his foreword to the report, Ian Wilson, DHL Express UK & Ireland CEO, said: “The resilience of UK exporters is highlighted with this quarter’s Trade Confidence Index. Despite being a slight decline on the previous quarter, the index remains up year on year and it is encouraging to see it stands at the fifth highest level on record. This strong performance also reflects what I hear from our customers and, at DHL Express, we continue to support an abundance of energetic, internationally-focussed UK entrepreneurs to take their businesses to the world.”

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PM strengthening trade partnerships in Africa

In a move to grow British exports to Africa, Theresa May has announced that UK Export Finance has increased its export support to a further eight markets across the continent. An extra £5.5 billion will be made available to UK exporters and their African buyers in order to finance export deals.

With the UK-Africa trade relationship already worth more than £31 billion, by 2050 a quarter of the world’s consumers will be African, representing a huge opportunity for UK businesses to increase trade with African countries.

Theresa May said: “With a shared passion for entrepreneurship, technology and innovation, now is the time for UK companies to strengthen their partnerships with Africa to boost jobs and drive prosperity both at home and overseas.”

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US economy continues to grow in Q2

The US economy has continued with a strong rate of growth in the first half of the year and is now on course for its best performance in more than 10 years. According to the US Bureau of Economic Analysis, GDP expanded at an annualised rate of 4.2 per cent, 0.1 per cent faster than originally estimated, marking the most rapid growth seen for four years.

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