Growth 'dependant on export recovery'

National economic recovery is dependant on strong performance in trade exports and more needs to be done to nurture growth in this sector.

This is according to chief economist of the British Chambers of Commerce David Kern, who was commenting on the latest trade figures published by the Office for National Statistics.

He said the data is disappointing as it is indicative of a widening gap in the trade deficit.

Ongoing economic difficulties in the eurozone were acknowledged as making it difficult for exporters to maintain a strong position in the global markets.

"Net exports should be the main engine of the recovery. The government must support a national export drive, with more support for firms in key areas such as trade finance, insurance and promotion," Mr Kern stated.

The expert recently called for an extension to the quantitative easing initiative by a further £50 billion in order to strengthen the standing of national trade on the world stage.