Welsh international goods trade: April 2024 to March 2025 (headline data)

The data in this report are provisional estimates for April 2024 to March 2025 with data revisions going back to Q1 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.

Exports

• The value of goods exports for Wales was £15.3 billion in the year ending March 2024, down £3.9 billion (20.1%) compared to the year ending March 2024. This was largely driven by a £2.4 billion decline in the value of ‘Oil’ (SITC33) exports, and a £1.1 billion decline in the value of ‘Power Generating Machinery and Equipment’ (SITC71)^{[footnote 1]}.  
• In the year ending March 2025, all UK countries experienced a decrease in the value of exports, except for Scotland which increased, compared to the year ending March 2024.
• The value of goods exports less ‘Oil’ (SITC 33) for Wales was £14.5 billion in the year ending March 2025, a decrease of £1.5 billion (9.2%) when compared to the year ending March 2024.
• In the year ending March 2025, export values to EU countries decreased by £1.7 billion (15.1%) down to £9.5 billion, while export values to non-EU countries decreased by £2.2 billion (27.3%) down to £5.7 billion, compared to the year ending March 2024.
• The EU accounted for 62.4% of Welsh export values compared with 48.9% for the UK as a whole.
• Export values from Wales continue to be dominated by ‘Machinery and Transport Equipment’^{[footnote 2]} which made up £7.1 billion (46.8%), a decrease of £1.1 billion (13.5%) compared to the year ending March 2024. ‘Manufactured Goods’ was the second highest value exported product category, worth £2.5 billion, making up 16.3% of export values.
  • ‘Other Transport Equipment’ was the largest value product within the ‘Machinery and transport Equipment’ category worth £2.6 billion (16.9%) of Welsh exports. This is a decrease of £0.3 billion (14.5%) compared with the year ending March 2024.
  • Within the Manufactured Goods category, ‘Iron and Steel’ was the largest value product worth £1.0 billion (6.4%). This is a decrease of £0.1 billion (13.2%) compared with the year ending March 2024.

Imports

• The value of goods imports for Wales was £20.2 billion in the year ending March 2025, down £0.7 billion (3.5%) compared to the year ending March 2024.
• In the year ending March 2025, England and Northern Ireland experienced an increase in the value of imports, while Wales and Scotland experienced a decrease, compared to the year ending March 2024.
• The value of goods imports less ‘Oil’ (SITC 33) for Wales was £14.9 billion in the year ending March 2025, a decrease of £0.2 billion (1.5%) when compared to the year ending March 2024.
• In the year ending March 2025, there was an increase in import values of goods from EU countries of £0.2 billion (2.3%) up to £7.7 billion and a decrease in import values of goods from non-EU countries of £0.9 billion (6.7%) down to £12.5 billion, compared to the year ending March 2024.
• The EU accounted for 38.2% of Welsh import values compared with 53.1% for the UK as a whole.
• ‘Machinery and Transport Equipment’ remained the largest import value category at £7.5 billion, accounting for 37.0% of total import values, a decrease of £0.5 billion (6.0%) compared to the year ending March 2024. ‘Mineral Fuels’ continue to be the second highest value imported product category, worth £5.7 billion, making up 28.1% of total imports.
  • Power Generating Machinery and Equipment’ was the largest value product within the ‘Machinery and transport Equipment category’ worth £2.9 billion (14.4%) of Welsh imports. This is a value decrease of £0.4 billion (12.0%) compared with the year ending March 2024.
  • Within the ‘Mineral Fuels’ category, ‘Oil’ (SITC 33) was the highest value product worth £5.3 billion (26.4%) of Welsh imports. This is a value decrease of £0.5 billion (8.7%) compared with the year ending March 2024.

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 experimental statistics (2022) produced by the Office for National Statistics suggest that service exports make up approximately 30% of total exports from Wales, and 20% of total imports.

Main results are published quarterly and are available on HMRC’s UK Trade Info Pages and our own interactive dashboard. 

[1] Users are advised to exercise caution when using data related to ‘Power Generating Machinery and Equipment’ (SITC71). HMRC are currently investigating trade data under SITC71. It has been identified that some movements related to maintenance and repair have been recorded under the correct commodity codes, but without the additional information required for accurate classification under the special trade system of international trade statistics. Investigations are ongoing to determine whether earlier data periods are also affected. Figures may be subject to further revision. 

[2] This includes Power Generating Machinery and Equipment, Machinery Specialized For Particular Industries, Metalworking Machinery, General Industrial Machinery and Equipment and Machine Parts not Elsewhere Specified, Office Machines and ADP Machines, Telecomms and Sound Recording and Reproducing Apparatus and Equipment, Electric Machinery, Apparatus and Appliances and Electric Parts Thereof not Elsewhere Specified, Road Vehicles (Including Air Cushion Vehicles), Other Transport Equipment.

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

Media: 0300 025 8099