Export growth set to halve as confidence hits new low

BRITISH export growth will plunge by almost 50% next year with Labour’s string of deals failing to improve hopes of a revival in international trade, a top business forecaster has said.

- Felix Armstrong

The Government has made trade a key lever to boost growth, using deals with the likes of the EU and India to boost market opportunities.

But export growth is expected to fall from around 3% this year to 1.8% in 2026, according to the British Chambers of Commerce. That is a significant reduction from a previous 3.3% prediction.

With business confidence at a historical low ahead of last month’s Budget, the latest BCC forecast suggests Rachel Reeves’ interventions will fail to reverse this decline.