Are prospects for UK exports in the Eurozone improving?
The Eurozone economy grew 0.2% during the third quarter of 2014.
Carl Hasty, director of international payment specialist at Smart Currency Business said: “This would not be an exciting statistic in general, but we have to remember that Eurozone economic growth was estimated to be 0.1%.”
“However, this is not cause for celebration just yet. Although it has risen slightly, Eurozone economic growth remains low, while unemployment remains high. Inflation levels were reported to remain at 0.4% in October – far from the European Central Bank’s target of 2%.
“This does not mean that the Eurozone does not present opportunities for UK exporters. UK businesses enjoy the benefits of fewer regulations and shorter lead times when exporting to the Eurozone, compared to the rest of the world.
“However, although the small piece of positive news in terms of Eurozone economic growth is promising, the Eurozone is still far from recovery. UK businesses that are trading in the Eurozone still need to have the right currency strategies in place in order to minimise the risks presented by volatile currency markets.”
