Multilingual trade could be key for UK exporters
May 13 2011
Just 18 percent of EU internet users buy online in a language other than their own
Four out of five European consumers are less likely to buy goods online unless they are sold in their own language, highlighting the need for British exporters to trade online in languages other than English.
A survey of 13,000 people by Eurobarometer, the public research wing of the European Commission, finds that just 18 percent of European Union (EU) internet users buy online in a language besides their own, suggesting that multilingual trade could be key for UK exporters.
Almost nine in ten (88 per cent) internet users in the EU agree that all websites produced in their homeland should be available in that country’s official language.
The report comes on the back of another from the British Chamber of Commerce that shows that 70 per cent of UK companies do not export, thinking that their goods are not suitable for overseas markets.
Trade figures for March indicate a widening of the trade deficit and a decline in exports.
David Kern, chief economist at the British Chamber of Commerce says, ‘As the government looks to reduce the deficit, businesses will see domestic demand weaken. Achieving sustained economic growth relies on improving our international trading position.
‘Promoting the interests of British companies and ensuring they can compete on equitable terms in areas such as trade finance and insurance is vital. Our exporters need a stronger presence in fast-growing markets outside Europe such as China, India and Brazil.’
Kern says that the BCC will look to the government to keep its promises on trade promotion, particularly for small and medium enterprises that need support finding new markets for their products. ‘Continued low interest rates will also encourage a competitive exchange rate, helping companies compete overseas,’ he adds.
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