Chamber launches International Trade Index

Greater Birmingham Chambers of Commerce (GBCC) launched the International Trade Index yesterday during the Global Trade Conference at the Royal Birmingham Conservatoire.

The report, compiled by the GBCC and sponsored by Birmingham City University (BCU), offers an up-to-date snapshot of the performance of international trade to the Greater Birmingham business community. It is the most comprehensive, regular report of its kind in the region.

GBCC head of policy Raj Kandola said: “While the total value of West Midlands exports increased between Q2 2022 and Q3 2022, exports are still below the pre-pandemic devils.

“In contrast, the value of imports has increased since the initial phase of the pandemic. The total number of trade documents processed by GBCC 's international hub decreased between Q3 2022 and Q4 2022, including document to EU member states.

“The largest percentage decrease in total exports was seen in the West Midlands where exports fell by 25.3 per cent from 2019. ”

Dr Steve McCabe, associate professor of BCU, also commented on the report during a panel discussion chaired, by GBCC international director Many Haque.

He said: “The only things certain in these times is uncertainty. What we are seeing now is a culmination of different political and economic storms.

“The Ukraine crisis is the biggest pressure that businesses are under currently. The inflation rate is still in double digits and can be expected to come further down this year to around 4 per cent towards the end.

“We cannot expect a lot from the government budget. Businesses need a degree of certainty which is not being delivered. ”

Click here to read the full report.

Pictured: Raj Kandola and Dr Steve McCabe

Picture by Marc Kirsten