The UK export market — doom and gloom or a sunny future?
posted Mon, 2011-05-16 16:44 by
It seems like everyone’s talking about UK exports this month.
We’ve got the FT pointing out the fact that the UK joined the exporting game a little too late to ride out the recession.
Then there’s the British Chamber of Commerce bemoaning an increase in the trade gap for March that forecasters had (almost) predicted.
You’d be forgiven for thinking the future’s a little bit grim for UK exporters, but let’s take a look at the bigger picture. For the first time since the end of 2009, the quarterly trade deficit is at its lowest, with exports having grown by 4.2%.
And it seems that UK exporters are finally cottoning on to the fact that there’s money to be had in far-flung places—on the quarter, exports to non-EU countries grew by 10%, while those to EU countries barely hit 1%.
Indeed, with the release of The Sunday Times Fast Track 100 (upon which Lingo24 was placed at a commendable number 81), highlighting the success that UK companies have been having internationally, the export market seems to be moving in the right direction, with experts predicting continued growth.
And we think that there’s no better time for UK businesses to bolster this growth by embracing the foreign language internet. The Common Sense Advisory’s ‘Can’t Read, Won’t Buy’ report found that 85% of all consumers require information in their native language before making a purchase online, and the quicker businesses realise the importance of the foreign language internet, the quicker they can contribute to the growing number of exports.
So whether the spin on the current UK export market is positive or negative, what is certain is that businesses need to go multilingual to claim their share of the foreign language market, as well as giving the UK economy a well-needed boost.
tags: eCommerce, Export, Foreign Language Internet, International Trade, UK economy
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