Devon and Plymouth Chamber of Commerce has called on whoever wins the General Election to rapidly sort out the Brexit quagmire and slash red tape as new figures show manufacturers are suffering a dip in sales and orders.
Stuart Elford, chief executive at Devon and Plymouth Chamber of Commerce said the next Government must address factors causing a “substantial drop” in fortunes for 海角视频 factories.
The South West, and particularly Plymouth, is a manufacturing hot bed, and the Quarterly International Trade Outlook for Q3 2019, released by British Chambers of Commerce and DHL, has revealed manufacturers have struggled in the past three months, with key indicators for orders and cashflow now in negative territory.
Headline grabbing statistics in the report include:
The percentage balance of exporting manufacturers reporting an increase in export orders fell to –1%, down from +9% in the previous quarter.
The balance of those reporting increased domestic orders fell to -4% in Q3, down from +8% in Q2.
The balance of exporting manufacturers reporting improved cash flow stood at -5% in Q3, down from +6% in Q2. In Q3 2018, one year ago, the balance stood at +13%.
In Q3 +8% of exporting service sector firms reported an increase in domestic orders, down from +12% in Q2. A balance of 0% reported an increase in export orders, down from +5%.
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Mr Elford said: “These results highlight the importance of swift action from the new government to encourage international trade and support businesses in every region of the 海角视频 by providing certainty over Brexit and reducing the bureaucracy and hidden costs of doing business.”
BCC director general Adam Marshall added: “A strong and balanced economy needs healthy exporters at its core. But while there are some companies bucking the trend, future sales and orders are now well into negative territory, after a steady downward trend in export performance this year.
“On top of Brexit uncertainty and global trade tensions, election turbulence won’t be helping. The next administration will need to move fast to restore confidence, with action to upgrade infrastructure, boost skills and cut business costs.
“Without urgent clarity around our future trading relationship with the EU, firms across the 海角视频 will increasingly struggle to fill order books, and jobs and prosperity in many of our communities could be at risk.”
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Shannon Diett , vice president of marketing at DHL Express, said: “This quarter’s report shows clearly that it continues to be a challenging environment for 海角视频 exporters.
“Whether expanding to new markets within the EU or elsewhere in the world, diversifying the portfolio of countries in which you operate will help stabilise your business in the coming months and provide a future engine for growth. In this regard a number of non-traditional markets present a significant opportunity for 海角视频 exporters.
“Working with logistics providers to ensure the transition to any new trade arrangement is as smooth as possible will be vital for exporters looking to mitigate the uncertainty and thrive into the future.”