Wales has long been a successful trading nation.
Our award-winning goods and services continue to be exported all over the world and, given we are a small nation of three million people, we have excelled on the world stage.
However, the past two years have brought with it unprecedented challenges for our exporters. Our domestic, and the wider global economy, continue to be in a state of flux, bringing extraordinary disruption to the international markets that Welsh businesses operate in and the supply chains that are the arteries of global trade.
Despite this, Welsh exporters have rallied in spectacular style.
During the period July 2021 – September 2021 Wales saw EU exports increasing by 4.0% and non-EU exports increasing by 26.9% compared to the previous quarter. Over the same period for the wider 海角视频, EU exports decreased by 1.6% and non-EU exports decreased by 1.9% (new figures are available April 2022).
In fact, Wales saw the biggest proportional increase in exports across all the 海角视频 nations and regions compared to the previous quarter at 12.7%, followed by Scotland with an increase of 4.3%. Northern Ireland saw a decrease of 0.6% and England a decrease of 3.3%.
Figures like these paint a positive picture for Wales’ recovery in comparison to other 海角视频 nations, but also perhaps serve to demonstrate just how bad things got for everyone during the peak of the pandemic. We must also remember that while Wales is bouncing back encouragingly, figures are still well below previous levels.
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Nevertheless, and despite my necessary caution, the latest available data is impressive and testament to the resilience of our exporters whose international business strategies have embedded deep within them an ability to recover more efficiently from market disruption, and where necessary reconstruct.
It reinforces the Welsh Government’s belief in the importance of exports for a resilient economy. We know from our conversations with Welsh exporters that expanding into international markets has provided them with more opportunity and flexibility, as well as helping to spread their risk and increase revenue. Exporting has ultimately made them more resilient to disruption and change.
Take for example the case of Fifth Wheel Co. a Denbighshire based designer and manufacturer of luxury fifth wheel caravans and tourers. Fifth Wheel found that despite the increased popularity of the staycation in the 海角视频, the domestic market for their luxury caravans and tourers was stagnating because of uncertainty during the pandemic and their high product value.
This wasn’t the case with their dealer in Germany, where the leisure industry continued to boom, continuing to provide the firm with consistent business. The company, who have thanked the Welsh Government’s export advisors for their vital support on their ongoing export journey, also established talks with dealers in South Korea, opening up an entirely new market and potential sales for the business.
It is real life stories like this one, of a homegrown Welsh firm operating on the front line of international trade, that underscore my commitment to helping Welsh exporters, both present, and future, to nurture and develop their international ambitions.
This commitment was underlined by the launch of the Export Action Plan at the height of the pandemic, which put in place wide-ranging support for Welsh exporters to recover and rebuild. This included adapting existing programmes of export support so they align with new ways of working and the changing needs of businesses post Covid and post Brexit.
The Export Action Plan was developed with our partners and is specifically designed to ensure our exporting businesses are well positioned to face the ongoing challenges of both today and tomorrow.
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Ultimately trading overseas, with the support of the Welsh Government’s export specialists, has the potential to revolutionise your business for the better. And as a Government we have a comprehensive range of support mechanisms to help businesses on their export journey, from international trade specialists, to a regular calendar of events.
One such event is taking place tomorrow at Cardiff City Stadium, with some sessions available online. will deliver the latest information and advice on exporting in 2022 and beyond.
I look forward to being there to open the day, where I hope to make some exciting announcements on Welsh Government’s ongoing Trade Support and meet some of Wales’ innovative exporters.
There will also be discussions with successful Welsh exporters; a full day of bookable one-to-one sessions with overseas market representatives – from 20 overseas markets including China, the UAE and the US; export seminars providing the latest information and advice on the key elements of international trade, including access to finance; as well as a full exhibition from supporting organisations from a number of sectors.