Press release

Faster economic growth in Wales than every other part of UK

This news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The Welsh economy has grown faster than any other part of the UK, new figures today show

Welsh Secretary Stephen Crabb said they show that the Government’s long-term economic plan is working for Wales.

Statistics published by ONS show that between 2012 and 2013 Wales saw a 3.4% increase in GVA (Gross Value Added) per head, the fastest growth out of all the nations and regions of the UK.

Since 2010, Wales’ GVA per head has grown by 8.4%, the fastest growth out of all of the UK nations and regions after London.

Figures published this week by Markit also show that Wales saw the strongest rise in business activity during November since July 2014.

Stephen Crabb said:

These figures are great news and show that our long term economic plan is working for Wales.

Since 2010 we have lower unemployment, more jobs and now evidence of faster growth than almost any other part of the UK.

We still have long way to catch up - but the plan we have put in place is Wales’ best hope of building a stronger economy. It would be madness to abandon it now and put the recovery at risk for so many people in Wales.

See the statistics