The food and drink industry reported a £6.1bn turnover in 2015 and is on course to meet the Welsh Government’s target of a 30% increase in turnover to £7bn by 2020.
The latest figures show the food and drink industry reported a £6.1bn turnover in 2015 and is on course to meet the Welsh Government’s target of a 30% increase in turnover to £7bn by 2020.
Turnover of the food and drink sectors in Wales is up 17% since the launch of the Welsh Government’s Action Plan for the industry, Towards Sustainable Growth, in 2014.
The sector has a significant impact on the Welsh economy, with 223,000 people employed and a turnover of £16.8bn across the whole food and drink supply chain.
In 2015, Wales’ food and drink exports were worth over £264million, of which 90% was exported to the EU. The First Minister has highlighted to the UK Government the vital importance of businesses and investors in Wales to continue with uninterrupted access to the Single Market.
The Cabinet Secretary will today tour the food hall at the Royal Welsh Show to see for herself why Wales’ produce is such a success and to discuss the opportunities and challenges post-Brexit in maintaining this excellent track record.
The Cabinet Secretary said:
“Wales’ food and drink sector is one of our economic success stories and we are committed to supporting the industry to build on its fantastic achievements.
“The UK’s decision to leave the EU has caused uncertainty and I want to use my time at the Royal Welsh to reassure producers that we will be fighting for the UK to negotiate to retain access to the 500 million customers in the Single Market.
“However, as a country we do business around the world and we must now aim to do more.
“We continue to support our food and drink companies to secure overseas deals through our Export Support Programme and our UK and International Events Programme, both of which have secured over £6.5m deals in the last year and £12m opportunities recorded.
“We must build on this and forge new links with the rest of the world. It’s clear from the excellent produce on display at the Royal Welsh that we have a strong and distinct offer. We must be brave and confident in selling this to the rest of the world.”