Travelex Confidence Index: Exporters Stand Firm, Despite Austerity Measures

By Travelex Global Business Payments, PRNE
Tuesday, January 11, 2011

LONDON, January 12, 2011 - British exporters are confident that exports can make a large
contribution to the UK's economic growth in 2011, according to the latest
Travelex Confidence Index released today. An impressive 65% said they thought
their export activity would grow in 2011. David Sear, Global Managing
Director at Travelex Global Business Payments said "exporters are central to
the UK's growth hopes in 2011 - and they know it."

The report comes days after Prime Minister David Cameron stressed the
importance of trade to the UK economy, telling the country's business leaders
to "sell Britain - British exports and Britain as a place for investment."

Despite the impending 'age of austerity', the Travelex Confidence Index
showed that exporters remained upbeat in December, with 59% expressing
confidence in current economic conditions. They clearly rejected the
likelihood of a double dip recession, as 75% were confident that economic
growth would be sustained in 2011.

The Index also highlighted the growing pessimism of British importers,
driven by fears over weakening domestic demand. Less than half (48%) of
British importers showed confidence in current economic conditions.
Importers' optimism in future trade also fell to a four month low.

Mr. Sear commented: "At the moment, Britain's trade community is divided
into two camps; exporters who are confident that they can drive economic
growth, and importers who are concerned about the impact the VAT hike will
have on consumer spending. The hope is that any economic growth provided by
rising exports will improve British consumer confidence, encouraging them to
spend once again. This in turn should improve the sentiment of UK importers."

About Travelex Confidence Index

The Travelex Confidence Index (TCI), released monthly by Travelex Global
Business Payments, provides commentators with a key indicator on
international trade and economic conditions. Conducted by independent
research company TNS-RI, the Travelex Confidence Index tracks the views and
sentiments of the UK's SME importers and exporters across industry sectors
and UK regions. The TCI is the only piece of research available that
regularly tracks the UK's SME importers and exporters. Visit

    Media enquiries

    Jessica Buttress
    Head of PR for Travelex Global Business Payments UK

Media enquiries: Jessica Buttress, Head of PR for Travelex Global Business Payments UK, +44(0)208-415-4204, +44(0)77954-497129, Jessica.buttress at .

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