Value of Welsh exports plummets by a quarter in the last five years, Government data reveals

Responding to today’s Welsh Government report on Welsh Exports, which show that the value of Welsh exports have since 2011 plummeted by a quarter, a spokesperson for the Welsh Conservatives said:

Responding to today’s Welsh Government report on Welsh Exports, which show that the value of Welsh exports have since 2011 plummeted by a quarter, a spokesperson for the Welsh Conservatives said:

“It’s extremely galling to see that the value of Welsh exports has dropped by a quarter – amounting to a whopping £873 million – when compared to figures taken from 2011. The news will no doubt send shockwaves through the business community.

“The report reveals that in the last four quarters, exports from Wales to the EU fell by 13.4%, which accounts for nearly 40% of all exports, while exports to non-EU countries fell by 1.2%.

“More troubling still is that the value of our steel and iron exports during the same period have nearly halved.

“If this downward spiral continues then Wales’ standing on the international market will be significantly diminished.

“There is so much more that Welsh Labour Government ministers could be doing to support Welsh businesses in their efforts to tap into overseas markets and they must not allow these figures to drop further.

“Labour has its hand on a number of economic levers that could grow the Welsh economy and exports play a significant part in that.

“Always anxious to trumpet any increase in exports, it is sadly inevitable that today’s development will be greeted with near-silence.

“Our export market remains fragile. The only way to change this is by developing a long-term sustainable plan, working side-by-side with businesses, to give them the confidence to invest, create jobs and boost their output.

“Such a plan is woefully absent from the Labour Government’s economic strategy. They must do more to work with the UK Government to ensure that Wales reaps the benefits from what is now the fastest growing economy in all of the G8 economies.”