Weak pound can boost exports

The weak status of the pound could be great news for the UK's export business, according to an expert, who said that these are the key to the economy's sustained recovery.

Sales jobs seekers could be buoyed by the comments from Michael Baxter, editor of Investment and Business News, who believes the UK's current "pathetic" exports to Europe need to be reviewed.

"I think the UK has to rely on what the cheap pound can bring us. It provides the best piece of hope for the UK economy at present," he said.

At the moment, Mr Baxter believes that UK trade is too local and has to become more global if the country is to succeed and he thinks Britain's relationship with India could help foster an important trade connection.

The UK needs to maintain the recent upturn in its public finances, with exports one way to help reduce the deficit.

The Office for National Statistics recently revealed that the UK's seasonally adjusted deficit on trade in goods and services was £2.1 billion in February, compared with the deficit of £3.9 billion in January.

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Posted by Wayne Bly

Filed: 16-04-2010