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Wales The Economy
The chief economic activities of Wales include agriculture, manufacturing, and tourism and other service industries. The economy is largely integrated into that of the United Kingdom. Recent decades have seen fundamental changes in the Welsh economy. Coal mining and traditional heavy industries such as shipbuilding, which were the backbone of the economy from the 19th century, have died out. The service sector, by contrast, has greatly expanded, especially tourism and financial services. An influx of new, generally light, industries such as electronics has diversified the manufacturing base.
Agriculture, Forestry, and Fishing
About 80 percent of the land in Wales is used for agricultural purposes. In general the raising of livestock, mainly beef and dairy cattle and sheep, is more important than crop cultivation. Crops include potatoes and fodder crops, such as barley, oats, and hay. Forests cover about 12 percent of the land, and government reforestation programs are gradually increasing the area. The fishing industry is concentrated along the Bristol Channel.
Manufacturing and Mining
Wales is home to a diverse manufacturing sector. The refining of metal ore, much of which is imported, has long been a major industry. Almost all the tin plate and much of the aluminum of the sheet steel produced in Britain are made in Welsh plants. Since the 1940s many new industries have been established. These include oil refining and the manufacture of plastics, electronic equipment, synthetic fibers, and automotive parts. In recent decades, production of sophisticated consumer electronics, telecommunications equipment, and other high-technology manufactures has expanded. Milford Haven, in southwestern Wales, is a major petroleum-importing port and refining center.
Mining, once a mainstay of the economy, is no longer a major source of revenue or employment in Wales. The rich coal fields and iron ore deposits of southern Wales helped fuel Britain’s Industrial Revolution. By the 1980s falling domestic demand and declining competitiveness in international markets forced most coal pits still operating in Wales to close. Welsh mines also produce limestone and slate.
Tourism
The Welsh coast is a favorite destination for British vacationers, and its mountains have long attracted walkers and climbers. Since the 1970s tourism has developed into one of Wales’s most important economic sectors. The Welsh Tourist Board coordinates the promotion of tourism in the region. Its efforts are helped by the fact that one-quarter of the country has been designated as a National Park or Area of Outstanding National Beauty. National parks include Snowdonia National Park, the Brecon Beacons National Park, and the Pembrokeshire Coast National Park. The National Botanic Garden of Wales opened in 2000 near Llanarthney, Carmarthenshire. |
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