Welsh export increase amongst highest in the UK
12 Oct 2017 02:59 PM
News that Welsh exports increased by 18% in the year to June 2017, has been welcomed by Economy Secretary, Ken Skates.
Latest figures show that Welsh exports to EU countries increased by nearly £1.3m or 15.4 percent over the year, while exports to non EU countries were by up over £1.1m or 21.2 per cent.
Exports to the EU accounted for 59.8 per cent of Wales’ total over the year.
Wales’ increase in exports was the second highest of all twelve UK countries and English regions, coming just behind Scotland’s increase of 21.1 per cent.
The smallest increase of 6.3 percent was recorded by the North East of England.
Germany remained the top export destination for Wales, with 19.4 per cent of exports going there. Meanwhile the Machinery and Transport Equipment sector continued to dominate, accounting for 53.4 per cent of all Welsh exports.
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.
“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.”