Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, said:
“It is promising to see that despite recent disruption to shipping in the Red Sea, goods and services imports were largely unaffected in January with the value of imports increasing. Exporting, on the other hand, remains more changeable month by month. Goods exports to the EU increased in January while exports to non-EU countries decreased.
“Almost two thirds of businesses in Wales export to international markets, according to our Quarterly Economic Survey for Q4 of 2023, and will be interested to see what impact new trade agreements outside of the EU and membership of the CPTPP, once in effect, will have on international trade and exporting opportunities in particular.”
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