LONDON (Alliance News) - UK exporters are reaping the rewards from international markets, the British Chambers of Commerce said in its International Trade Survey released Tuesday.
According to the survey, about 59% of survey participants logged sales growth in 2014 despite stagnation in the euro area and the appreciation of sterling. Around 34% of exporters had expanded their production capacity to cope with demand from international markets.
BCC Director General, John Longworth said, "We must redouble our efforts to grow a pipeline of new exporting companies that the UK economy so desperately needs."
Nearly 89% of businesses had ambitions to grow domestically, however fewer than half of firms had ambitions to grow internationally.
"As the election debate rages, Britain's political parties have failed to set out how they will address the export challenge - and achieve the ambitious growth targets that the Prime Minister set out for 2020," Longworth added.
Business people want to work with the next government to implement ambitious plans that help Britain recapture its reputation as a premier trading nation, he said.
Copyright RTT News/dpa-AFX