Exports increase puts Wales in second place of UK regions

EXPORTS to EU countries from Wales increased by nearly £1.3bn or 15.4% over the year while exports to non-EU countries were by up over £1.1bn or 21.2%, latest figures show.

Exports to the EU accounted for 59.8% of Wales’ total over the year.

Germany remained the top export destination for Wales, with 19.4% of exports going there. The machinery and transport equipment sector continued to dominate, accounting for 53.4% of all Welsh exports.

Economy Secretary Ken Skates said: “These latest figures show an excellent performance from our exporting companies, both within and outside of the EU, with a growth rate that is second in the whole of the UK.

“Welsh companies are clearly working hard to increase their share of the overseas markets and I congratulate them on their success.

“Exporting really does have the potential to transform a business and take it to next level, which is why increasing the value of exports and the number of exporters remains a key Welsh Government priority. And this is more important than ever as we prepare to leave the EU.”

Wales’ increase in exports was the second highest of all 12 UK countries and English regions, coming just behind Scotland’s increase of 21.1%.

The smallest increase of 6.3% was recorded by the North East of England.

Mr Skates added: “The Welsh Government provides a comprehensive and tailored package of support for companies looking to build up the export arm area of their operations, offering them the right support for wherever they may be in their journey.

“I would urge companies keen to explore this option to get in touch with the Welsh Government for more information on the support available.”