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11th August 2023

Mixed fortunes as trade figures for June are revealed

Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, said:

“The trade figures for June released today by the ONS reveal mixed fortunes for businesses who trade internationally. It is disappointing to see a 5.8% decrease in goods imports, but encouraging that a 1.8% (£0.6bn) rise in goods exports was recorded, showing there are opportunities for businesses in Wales with a number of new trade deals in place.

“When Chambers Wales South East, South West and Mid visited the Royal Welsh Show recently, we engaged with SME businesses looking for export advice, including those in the agricultural, food and drink and manufacturing sectors, about the importance of exporting and trading internationally for their goods and the role the Chamber plays. By attending roundtables and meetings on CPTPP, the Chamber can offer best advice to help businesses with their exporting through getting their documents and declarations along with member discounts on export documentation.

“In our Quarterly Economic Survey for Q2, Welsh businesses identified new markets and new international markets as opportunities for recovery and growth and today’s data, showing a rise in exports to non-EU countries as well as a stable level of trade with the EU, clearly demonstrates the positive impact that accessing and understanding these new markets can have.

“Strengthening international trade can only help businesses in the long-term, as those who export are far more resilient to the economic shocks that businesses have had to face for over three years. Chambers Wales South East, South West and Mid continue to work closely with policymakers to ensure that international trade support policy is inclusively designed for SMEs.”

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