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Wales has biggest drop in Exports

October 7, 2010 12:54 PM

Three of the twelve devolved countries and English regions saw falls over the last year. Wales had the largest percentage decreases in the value of exports (down 15.6 per cent).

Shadow Economic Development spokesperson Jenny Randerson AM said "The drop in exports is extremely concerning as the internal market is obviously fairly small.

"While it should be seen in the wider context of a world economic crisis it does seem that Wales is falling behind other areas of the UK. Overall the value of exports rose for the UK.

"My concern is that further job losses will follow and it is always better to prevent rather than cure. I hope the Minister will be addressing this dangerous trend soon.

"It re-emphasises the need for a rapid development of better links with HE in order to stimulate the most advanced sectors of the economy which are the sectors most likely to grow in the future."

ENDS

Notes: The value of exports for Wales for the four quarters up to and including quarter 2 2010 fell by £1,602 million compared to the previous four quarters.There were decreases in exports to EU countries and in exports to non-EU countries, down £480 million (9.0 per cent) and £1,122 million (22.8 per cent) respectively.Looking at quarter 2 of 2010 in isolation, total exports (by value) for Wales decreased on the corresponding quarter in 2009 by £124 million (down 5.1 per cent) to £2,296 million. Three of the twelve devolved countries and English regions experienced decreases in exports over this period with Wales having the largest decrease, followed by the East Midlands and Northern Ireland. The largest increase was in the West Midlands. Overall, the value of exports for the sum of the UK countries increased by 15.6 per cent.

http://wales.gov.uk/topics/statistics/headlines/economy2010/100909/;jsessionid=ybF2MtGQ2HdfxLj2JMTwvpy60ZpNRx41V0xZYWkrCwMkJbptd61T!-2135057422?lang=en