Welsh international goods trade: July 2024 to June 2025 (headline data)

The data in this report are provisional estimates for July 2024 to June 2025 with data revisions going back to Quarter 1 2024. Data will be revised routinely over the next 18 months to account for late returns.

Data covers the value (in current prices) of goods exports and imports.

It is important to consider the impact of global economic events on the value of trade as well as inflationary pressures pushing up current prices of products.

The following analysis is a comparison between the latest year of data (year ending June 2025) and the previous year (year ending June 2024).

Total trade (exports + imports)

• The total trade value for Wales was £37.6 billion, down £2.1 billion (5.2%) from £39.7 billion.
• The total trade volume for Wales was 19.4 billion kg, a decrease of 5.8 billion kg (22.9%) from 25.1 billion kg.

Exports

• The value of goods exports for Wales was £17.1 billion, down £1.5 billion (8.2%) from £18.6 billion. This was largely driven by a £2.0 billion decline in the value of ‘Oil’ ^{[footnote 1]}. exports.
• The volume of goods exports for Wales was 4.1 billion kg, a decrease of 2.8 billion kg (40.6%) from 6.9 billion kg.
• The value of goods exports for the UK was £354.7 billion, down £2.9 billion (0.8%) from £357.7 billion.
• The volume of goods exports for the UK was 111.9 billion kg, a decrease of 8.9 billion kg from 120.7 billion kg.
• All UK countries experienced a decrease in the value of exports, except for Scotland which increased.
• The EU continues to make up most of the Welsh export values, accounting for 56.8%, whilst the EU makes up 48.4% of UK export values.
• Export values to EU countries decreased by £1.2 billion (11.0%) to £9.7 billion from £10.9 billion. Export values to non-EU countries decreased by £0.3 billion (4.1%) to £7.4 billion from £7.7 billion.
• The top 3 products exported from Wales were ‘Power Generating Machinery and Equipment’ ^{[footnote 2]} (£4.1 billion), ‘Other Transport Equipment’ (£2.6 billion) and ‘Iron and Steel’ (£0.9 billion). These products accounted for 44.7% of Welsh goods exports.
• The top 3 countries that Wales exported to were Germany (£2.7 billion), United States (£2.2 billion) and France (£1.7 billion). These countries accounted for 38.2% of Welsh goods exports.

Imports

• The value of goods imports for Wales was £20.6 billion, down £0.6 billion (2.6%) from £21.1 billion. This was largely driven by a £1.1 billion decline in the value of ‘Oil’ imports.
• The volume of goods imports for Wales was 15.3 billion kg, a decrease of 3.0 billion kg (16.3%) from 18.3 billion kg.
• The value of goods imports for the UK was £589.8 billion, up £12.9 billion (2.2%) from £576.8 billion.
• The volume of goods imports for the UK was 270.5 billion kg, an increase of 6.1 billion kg (2.3%) from 264.4 billion kg.
• All UK countries experienced an increase in the value of imports, except for Wales which decreased.
• The EU accounted for 38.6% of Welsh import values compared with 53.0% of UK import values.
• Import values from EU countries increased by £0.5 billion (6.5%) to £7.9 billion from £7.5 billion. Import values from non-EU countries decreased by £1.0 billion (7.6%) to £12.6 billion from £13.7 billion.
• The top 3 products imported into Wales were ‘Oil’ (£4.9 billion), ‘Power Generating Machinery and Equipment’ (£3.9 billion) and ‘Other Transport Equipment’ (£1.0 billion). These products accounted for 48.0% of Welsh goods imports.
• The top 3 countries that Wales imported from were United States (£3.7 billion), China (£1.8 billion) and Netherlands (£1.4 billion). These countries accounted for 33.6% of Welsh goods imports.

Because of changes to the way in which the data is collected, additional low value trade that was previously allocated to countries and regions may now be reported under the ‘Unallocated-unknown’ category. This has led to a likely reduction in the UK to EU export values, and total export values for Wales (and other regions) from January 2021 onwards. More detailed notes of these effects can be read in the HMRC Full Commentary on these statistics.

This report includes scheduled revisions for previously published data.

Some of the trade data included in this report may get revised by HMRC as part of their routine revisions to the data set. The latest data will be available on UK Trade Info.

The data above relates to international goods trade. For international trade in services, the latest official statistics in development (Office for National Statistics (ONS)) (2023) produced by the ONS suggest that service exports make up approximately 30% of total exports from Wales, and 20% of total imports.

Note that the methods differ between HMRC and the ONS statistics. More detail is available on these differences in the HMRC ‘Overseas trade in goods statistics methodology and quality report’ (section 8.4).

Main results and business counts are published quarterly and are available on HMRC’s UK Trade Info Pages and UK trade in goods statistics (HMRC), alongside our own interactive dashboard.

[1] ‘Petroleum, Petroleum Products and Related Materials’ (SITC33)

[2] Revisions are included within ‘Power Generating Machinery and Equipment’ (SITC 71). In the June 2025 Overseas Trade Statistics, which this data is derived from, revisions relating to HS Chapter 84 (HMRC) ‘Mechanical appliances’ for the period of August 2024 to May 2025 have been applied.

Statistician: Cerys Ponting
Email: stats.trade@gov.wales

Media: 0300 025 8099