The amount of goods exported by UK firms has fallen, according to new figures, and as one expert claims the volatility of the pound will make the economic recovery difficult, businesses may want to consider how commercial insurance can protect them.
Commenting on recent data by the Office for National Statistics showing the country's trade deficit widened to £8.7 billion in July, Travelex Global Business Payments points out that exports had fallen 0.9 per cent during the month.
Paddy Earnshaw, customer director for the organisation, describes this drop as being "very disappointing".
"It seems that the pound's continued volatility makes it difficult to drive an export-led recovery," he adds.
Meanwhile, imports increased 3.1 per cent - growth driven by rises in the purchase of chemicals and oils - something those searching for commercial insurance may want to take into account.
And now may be a good time for businesses to consider their commercial insurance needs after a recent Travelex study showed firms are concerned that a slowdown in the United States' economic recovery could cause demand for UK exports to fall.
