Commenting on the October trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

 “The October trade deficit was broadly as expected, and the reported growth in exports was a positive feature. However, imports continue to grow more rapidly than exports, and it is clear that the much-needed rebalancing of the UK economy is not happening.  

“The underlying background - with Sterling competitive and recovery emerging in our main trading partners - provides opportunities for British exporters.   

“To take advantage of this, the Government needs to support our exporters more effectively, as other countries are doing, and must take action to ensure that trade finance is readily available.”