Wales exports over £15bn worth of goods every year, but what is the nation selling, and where?
The second largest export from Wales is petroleum products, which considering Wales is not exactly known for oil, might surprise some.
Has that happened? It's complicated, with so many other factors coming into play, from the Ukraine conflict to Covid, to global inflation.The overall trend is up, and substantially so.But the upward trend is not the full story.What we see is the rise of Ireland from 2020 onwards, overtaking both Germany and France as the main EU destination by 2022. While Ireland rises, we also see a sharp decline in the export market for France, and an overall dip for Germany.
Guess what happened to Airbus during the pandemic? It pretty much stopped making planes. No-one was really flying for large parts of 2020, airlines did not want to buy new planes, and were also actively cancelling orders. It means lamb is a key part of the food industry in Wales, with red meat production worth close to £750m a year, according to the trade body Hybu Cig Cymru - Meat Promotion Wales
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