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Peer calls for BRIC export boost

Mar 11 2011

The 'export gap' is worth £27 billion

Lord Mandelson has highlighted the importance of Britain increasing exports to the BRIC countries (Brazil, Russia, India and China) in a speech for the Institute for Public Policy Research.

The peer says that while British exports to BRIC countries have increased rapidly in the last decade, they are still behind Britain’s share of world trade.

‘If Britain increased its share of BRIC countries’ imports from their current levels to 3.7 per cent (our global average), it would be equivalent to £27 billion. IPPR’s work will seek to identify how to close this gap,’ he adds.

The ‘export gap’ is worth £19.8 billion with China, £3.2 billion with India, and £1.8 billion with both Russia and Brazil.

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