Trade Deficit Boost Welcomed by Chamber

14th December 2011

Sheffield Chamber of Commerce has reacted positively to news that UK trade deficit in goods and services has narrowed to £1.

6bn in October, from £4.3bn in September. Michelle Daniel, International Trade Team Leader at South Yorkshire International Trade Centre (SYITC), said: This is good news and we welcome the reduction. However, we must work harder at growing exports into the non-traditional areas of the world that are not in recession. More than half of the world is expanding quickly. Brazil, Russia, India, China, Australia and the Middle East are doing well and reporting sustained growth. There are huge opportunities out there and we need to exploit them. At SYITC we are working hard to change the shape of exporting for businesses in the Sheffield City Region to develop sustainable growth in international trade. Richard Wright, Executive Director at Sheffield Chamber of Commerce, added: Building exports with new markets around the world will be a key focus of the Global Manufacturing Festival in Sheffield next year. -The event will showcase how we achieve new exports and highlight the opportunities available to all businesses. Sheffield City Region must think on a global level, competing to achieve international targets which will have huge rewards. The Global Manufacturing Festival will take place in Sheffield on March 21-22. For more information go to www.globalmanufacturingfestival.com.

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