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Export surge despite crisis.

The news is constantly full of bad depressing news when it comes to the UK economy but its nice to know that in some areas business is booming, and give the rest of us a boost of hope.

August showed a record high of sales of global goods, despite the narrowing of imports. Export was valued at £25.5 billion and the highest since records begand in 1998. Some companies breathe a sigh of relief to see such great figures.

Surveys show that export orders had reduced mainly because of the Eurozone crisis, yet obviously out there somewhere things are going pretty well.

“The UK’s trade numbers are very strong,” said James Knightley at ING Financial Markets. “Goods exports have risen to an all-time high, despite intensifying recession fears, while imports fell marginally. We struggle to see this lasting given intensifying recession fears in the eurozone and a generally weak global growth environment, but it is good news for now.”

The UK Chamber of commerce opened its arms to this fantastic news.

“The figures provide a welcome contrast to the steady flow of negative news we have recently,” said David Kern, BCC chief economist. “However we cannot underestimate the challenges ahead for exporters, particularly in the face of the serious problems facing the eurozone, which remains our major trading partner.

“The government must support a national export drive. Unless we accelerate the pace of export growth and we gain market share from imports in the domestic market, it will be difficult to sustain UK growth. The government must strengthen its backing for SME exporters in key areas such as trade finance, insurance and promotion … On their part, Britain’s exporters must make every effort to diversify their sales towards fast growing economies such as India, China and Brazil.”

For exporting goods companies rely on Letters of Credit to secure funding with the global clients.

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