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China slowdown starts to hit British exports

Digital figures - Number of small UK exporters have flagged - SantanderCB

A number of small UK exporters have flagged slowing sales to China amid the country's economic slowdown. Middle-class Chinese families are cutting back on Western luxuries, as felt by mid-market wallpaper firm Graham & Brown, which has reported that export growth to the country is now flat, following a 25% year-on-year increase since 2012. The company has refocused its attentions on the US and Australia to make up the shortfall. Luxury jeweller Boodles noticed a drop-off in orders after the stock market crash, although managing director Michael Wainwright says it has been offset by strong demand from the Middle East. However, The Kids Food Company chief executive Sally Preston says she sees huge growth potential in China following last year's decision by the Chinese government to lift its restriction on one-child families. The company is forecasting sales of £10m next year, up from £7.5m in 2015.

 

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