Wales continues to operate a trade deficit with the value of imported goods outweighing exports - while the EU remains a vital market for exporters.
New data from the Welsh Government shows that the value of exported goods from Wales was £19.9bn in the year ending September 2023 - up £400m (2%) compared to the year ending September 2022. Over the same period the value of goods imported was £22bn, down £880m (3.4%) on the previous year.
In last year all UK countries experienced an increase in the value of exports, except for Scotland which saw a decrease.
Wales and Scotland saw decreases in the value of imports while England and Northern Ireland experienced an increase.
The value of goods exported, less oil, for Wales was £16.2bn, an increase of £900m (5.7%) on the previous year.
There was an increase in export values to EU countries of £400m (3.4%) up to £11.6bn, while the value of exports non-EU countries remained broadly similar at £8.3bn.
Export values to the EU accounted for 58.3% of the total Welsh export value compared with 51% for the UK. The EU accounted for 35.1% of the total Welsh import value, compared with 52.1% for the UK.
Exports continue to be dominated by machinery and transport equipment which made up £8.2bn (41.4%) of the total - an increase of £1.3bn (15.1%) compared to a year earlier. Mineral fuel continue to be the second highest value exported category, with £3.8bn worth exported - making up 19.2% of export values.
Machinery and transport equipment remained the largest import value category at £7.7bn, accounting for 35.1% of total import values.
