UK exports to EU unlikely to increase.
The economic recovery of the UK is looking more and more bleak now the EU, the UK`s largest trading partner is becoming stagnant. One Bank of England policymaker has said the exports to the UK are â€œdead in the waterâ€.
The same policy maker explained it was looking more and more difficult to see any exports grow because of the ongoing economic issues in the Eurozone. He went on to say the UK`s economic growth was no longer being led by consumer spending.
UK exports figures have been very low, growth has been slow over the past 2 or 3 years, according to one professor. He suggested the main reason for the slow growth was due to the Eurozone and the economic issues the member countries are facing. He added that it is hard to see exports growing in the near future.
The UK government has place a target for UK exports, it wants UK exports to reach the £1trn mark by the year 2020 and 100,000 more UK companies are needed to start exporting if the UK is to meet this target.
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