The Quarterly International Trade Outlook, published by the BCC and DHL, sees a surge in trade documentation before the EU referendum.There was a surge in the volume of trade documentation issued in the second quarter of 2016 – before the EU referendum – the latest Quarterly International Trade Outlook (QITO) from the British Chambers of Commerce (BCC) and DHL has shown.The report’s Trade Confidence Index, measuring the volume of trade documentation issued by accredited Chambers of Commerce, rose by 9.4% on Q1 2016 to stand at a record high of 126.95 in Q2 2016 – a rise of 4.83% on Q2 2015.The rise in documentation could be down to short-term factors, such as a rush to get longstanding orders through before the EU referendum or before the summer season, which is traditionally a slower period.However, despite the growth in the volume of trade documents issued before the EU referendum, many firms have not translated this into increased orders. Export sales and orders have remained in a holding pattern for the past few quarters, with firms putting off their plans for growth or recruitment until they have more certainty about the evolving economic and business position.
The full Quarterly International Trade Outlook report is available below.
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Source: British Chamber Commerce