ONS UK Trade Deficit – Barclays Comment

09 Aug 2012 09:51 GMT

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

“Waning European demand continues to hit British exporters with the ripple effects being felt the world over. The only way to reverse this downward spiral will be if businesses start to reinvest some of the cash they’re hoarding but, until there is certainty over project delivery, the current stalemate is likely to continue.”


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.