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ONS UK Trade Deficit – Barclays Comment

15 May 2012 17:31 GMT

Kah Chye Tan, Head of Trade and Working Capital at Barclays comments on today's ONS UK Trade statistics.

“The contraction over last month of the UK trade deficit is encouraging. However, the likelihood of this becoming a longer term trend remains under threat as our export led recovery is undermined by various eurozone shocks. Exporter confidence continues to be dealt blows by on-going eurozone uncertainty with talk of a Greece exit and Spanish debt issues; coupled with a steadily appreciating pound, the outlook will continue to be a challenge for UK exporters.

“Opportunities exist in the US which continues to head gently in the right direction with increased corporate investment and a modest return of consumer confidence. A relaxation of fiscal measures in China following an improving inflationary trend opens the door to new and increased business prospects for UK exporters.”


About Barclays

Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.