Industry Sector Weekly by Lloyds TSB

A major global macro theme is that deficit countries such as the UK need to rebalance its economy away from domestic consumption in favour of exports.
UK more export intensive in hi-tech sectors

A major global macro theme is that deficit countries such as the UK need to rebalance its economy away from domestic consumption in favour of exports.

We show that the UK has higher export ratios in the more hi-tech sectors, such as pharmaceuticals and aerospace, which generate more new products that are demanded as incomes rise.

This appears to bode well for UK export prospects, especially after the 20% fall in trade-weighted sterling since early 2008. A significant proportion of exporters price in foreign currencies, providing ample hedging opportunities.

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