Gloom About U.K. Foreign Trade

Press, Volume CIV, Issue 30827, 12 August 1965, Page 9

Gloom About U.K. Foreign Trade

(N.Z.P.A-Reuter —COpyriohtJ LONDON, August 9. A report today said merchants are “clearly gloomy” at Britain’s foreign trading prospects.

The Association of British Chambers of Commerce said only one-tenth of 295 merchants who took part in a survey had reported improving prospects. Merchants engaged in foreign trade with an annual turnover of £430 million gave their views in a question-! nairc.

Obstacle of Prices The report said: “Half are less optimistic about the general business situation than they were four months ago, when confidence was already at a low ebb.” The reason was that prices had been and were likely to remain the biggest obstacle to increased export sales. All export groups, except engineering products, report improving prospects in North America, and all except food. Industrial materials and fuel are optimistic about selling to Soviet countries and China. All groups continue to take "a pretty gloomy view” of prospects in India. South-east Asia and Japan and only engineering is optimistic about Australia and the Middle East. Western Europe appears to hold out reasonable prospects except for textiles, clothing and food. “In other markets the out-

look is patchy but with the majority of the groups inclined to take a pessimistic view,” says the report.