Exports 'outperforming in Wales'
Jun 16 2009
Wales has seen its exports increase at a faster rate than anywhere else in the UK over the last year.
Figures from HM Revenue and Customs show that Welsh exports rose by £1,482 million in the year ending March 31st, bringing the country's total value of international trade to more than £10.6 billion.
Welcoming the findings, Ieuan Wyn Jones, deputy first minister, notes that Wales' 16.2 per cent annual increase in exports is more than double the 7.4 per cent UK average.
In addition, the figures show that the total value of Welsh exports have increased by 66.2 per cent since 1999, compared to the national average of 42.1 per cent.
Jones comments: 'Welsh companies are looking beyond the current recession and actively pursuing new trade openings, which is fully supported by the assembly government.'
The minister also points out that the US is the country's largest international market and reveals that a recent trade mission between the two nations involved more than 80 firms.
Earlier this month, British Chambers of Commerce director general David Frost and Lord Davies, minister for trade and investment, called on UK firms to increase their exporting activities to survive the recession.
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