Wales’s financial and related professional services exports climbed to £4.8 billion during 2023, according to fresh research from TheCityUK.
The figure marks a 14.8 per cent rise and demonstrates Wales’s expanding role in the United Kingdom’s export growth driven by services.
Tom Bray, TheCityUK’s Wales chair, stated that Wales has built a financial and related professional services sector recognised for its substantial expertise. Companies based there are shipping that knowledge abroad more frequently. The notable increase in exports indicates Welsh firms are contributing significantly to Britain’s international services achievements while simultaneously backing valuable employment and capital spending throughout the nation.
The study, Exporting from Across Britain: Financial and Related Professional Services 2026, shows almost half of industry exports, at 49 per cent, originated beyond the capital, with Wales responsible for 2.8 per cent of that total.
Between 2019 and 2023, Wales achieved the swiftest average yearly expansion rate in Britain for this sector, reaching 17 per cent.
The data emphasises how vital services are to the British economy. While merchandise exports fell by 3.6 per cent, services exports overall climbed 14 per cent to £465 billion in 2023. Financial and related professional services comprised almost 40 per cent of all services exports.
To preserve and accelerate this progress, TheCityUK has suggested five policy measures for government consideration. These encompass boosting trade intelligence, enhancing cooperation between government departments, and fostering a consistent strategy for attracting foreign investment. The document also pushes for greater international regulatory collaboration, fresh alliances with rapidly expanding economies, and attention to digital commerce. It advocates emphasising cross-border data movement, lowering obstacles to digital trading, and guaranteeing domestic policy encourages innovation alongside safe data practices. TheCityUK additionally highlights the importance of maintaining access to highly qualified workers from across the globe.