Support our Nation today - please donate here
News

Wales’ economy first in the UK to return to pre-Covid size according to official data

24 Feb 2022 2 minute read
Money on a Welsh dragon

Wales’ economy has become the first in the UK to return to its size before the pandemic, according to official data by the ONS.

Despite some politicians raising concerns that Wales’ stricter Covid rules would hinder economic performance, Office of National Statistics figures suggested that Wales had turned to pre-2020 growth faster than the other parts of the state.

The figures published today are the first estimates by the ONS of quarterly growth, and show that Wales’ GVA grew 0.9% – returning to where output was at the end of 2019.

In comparison, the GVA of the West Midlands remains a full -9.8% smaller than it was before the pandemic struck. Northern Ireland’s economy has also almost returned to its pre-pandemic size at 1.1% smaller, with London at 1.5%.

The UK economy as a whole is expected to surpass its pre-crisis size in the second quarter of this year, the ONS said.

Wales’ Covid restrictions continue to be stricter than England and Northern Ireland, both of which have removed measures backed by law and moved to guidance. Scotland have said that their restrictions will end on March 21.

Wales is expected to confirm any further easing on 4 March.


Support our Nation today

For the price of a cup of coffee a month you can help us create an independent, not-for-profit, national news service for the people of Wales, by the people of Wales.

Subscribe
Notify of
guest

16 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Kerry Davies
Kerry Davies
7 months ago

So where are the hymns of praise interlaced with groveling apologies from Andrew RT Davies?
The reasons why Wales has “bounced back” first probably have a lot to do with the grinding poverty and inequality that 12 years of Tory austerity has left Wales as the poorest region in Western Europe.

Mab Meirion
Mab Meirion
7 months ago
Reply to  Kerry Davies

He only grovels when facing the rising sun…

BigPooba
BigPooba
7 months ago
Reply to  Kerry Davies

Last time I checked the WG was primarily responsible for the Welsh economy.

Cynan
Cynan
7 months ago
Reply to  BigPooba

Check harder. Primarily responsible for parts of it. Westminster screwed up the whole EU funding thing then reneged on promises of matched funding to our more gullible voters

George
George
7 months ago

Wasn’t the message also that Swansea was bouncing back more quickly than Cardiff on basis that larger cities were more slow in bouncing back?

Bouncing back quickly is a good thing, of course, but worry would be that it’s happened because the economy was smaller to start with – I think this is is an oversimplification and that confidence in measures is playing a role as well. Let’s now kick on to grow the economy as well.

Cynan
Cynan
7 months ago
Reply to  George

Boris fan by any chance?

Phil
Phil
7 months ago
Reply to  Cynan

Probably not… Just a realist.

Cynan
Cynan
7 months ago
Reply to  Phil

By “realist” you mean somebody that doesn’t like good news from Cymru so need to try to undermine it

Phil
Phil
7 months ago
Reply to  Cynan

No. I mean someone who realises that.Wales has a smaller economy and therefore it got back to pre-pandemic levels more quickly than the larger economies will.

Cynan
Cynan
7 months ago
Reply to  Phil

Yes that’s what I said. Always has to play Cymru down.

Phil
Phil
7 months ago
Reply to  Cynan

It’s not playing Cymru down at all. It’s simply facing facts. Hopefully the country can go on and far exceed the pre-pandemic levels.

Stephen Amos
Stephen Amos
7 months ago
Reply to  Phil

Statistics don’t work like that. The fact that Wales’ economy wasn’t great before the pandemic doesn’t impact the statistics of recovery. Yes, if Wales’ economy dropped 10%, and London’s economy dropped 10%, the monetary difference in London would be greater, however, we are talking percentages, not pounds. Statistically the impact would be the same and it is statistically that this article is referring to. Yes, Wales is not in a good place but this is still good news. Statistically speaking that is.

Quornby
Quornby
7 months ago

Despite the worst efforts of Westminster, Wales regularly proves it CAN so why don’t we?

Ed Jones
Ed Jones
7 months ago

But, but, but, we pay no tax, we are spongers, we are worthless, we speak an offensive language, we depend on England as we are clearly useless without their oh so generous help, but, but, but…
Da iawn Cymru! 👍🏴󠁧󠁢󠁷󠁬󠁳󠁿

Nottabott
Nottabott
7 months ago

Don’t tell the Tor*es, they will take credit, can’t wait to see RT tweet that Welsh gov took his advice….

hdavies15
hdavies15
7 months ago

Fell from a low base thanks to London centred indifference, or malice, take your pick. Now it has bounced back let’s make it bounce even higher.

Our Supporters

All information provided to Nation.Cymru will be handled sensitively and within the boundaries of the Data Protection Act 2018.