UK Export Slump

Yesterday we discussed the US dollar and how it is faring, and today we will have another look at good old Blighty.  What is going on in the UK?  Latest figures show that exports to non-EU countries are down – by a whopping 15.9 per cent.  Exports to EU countries is up by nearly 6 per cent but this is overshadowed by the other, much larger data.

It had been hoped that the British Pound‘s continued devaluation since mid 2007 would increase export, but this does not appear to be the case!  The poor results are making ministers call for greater aid to poorer nations, so that purchasing power increases.  In America this is also the case, as their Treasury calls for a greater drive to aid those nations on who’s demand they rely.

Now the question remains, when will the pound’s weak position start to lessen trade deficit?

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