Global uncertainty yields mixed results for Welsh exporters, new survey reveals
Global uncertainty yields mixed results for Welsh exporters, new survey reveals
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A shifting global trade landscape delivered mixed results for Welsh businesses in Q2 2025, according to the latest Quarterly Economic Survey from Chambers Wales South East, South West and Mid.
While 41% of businesses reported stable export sales in the second quarter, a notable 31% saw an increase in export orders and bookings, up from 25% in Q1. The uptick signals cautious optimism among exporters despite growing geopolitical and economic uncertainties.
The survey sheds light on the impact of ongoing UK–US trade negotiations, including former President Trump’s widely publicised “Liberation Day” tariff announcement in April.
Welsh businesses reported varying degrees of disruption:
- 15% of respondents said they were directly affected by the newly introduced 10% US tariffs on imports.
- 23% cited broader supply chain impacts due to US-imposed global tariffs.
- 23% are now reassessing the country of origin for goods to sidestep additional costs.
“It has been an unpredictable period for international trade,” said David Peña, Director of International Trade at Chambers Wales. “Tariffs can act as trade barriers to long-term growth, and it’s clear the US’ decisions have had ripple effects for Welsh firms, either directly or through their supply chains.”
Despite the headwinds, Peña stressed the importance of maintaining focus on trade resilience and opportunity:
“We stand for commerce and economic growth, and this data will help shape how we support businesses through volatility and into sustained growth.”
Away from global trade, the survey also captured insights into workforce trends and operational concerns:
- 44% of businesses attempted to recruit during the last quarter.
- Of these, two-thirds reported difficulties due to a lack of suitable applicants.
- However, 67% expect workforce levels to remain stable in Q3.
24% have increased investment in staff training, suggesting a pivot towards upskilling over hiring.
Consistent with previous quarters, labour costs and taxation continue to dominate business concerns. These pressures are forcing many companies to consider price increases, even as they grapple with inflation, energy costs, and supply chain instability.
“Despite a mixed picture on trade, it’s heartening to see positive developments, from export order growth to increased training investment,” said Gus Williams, Interim CEO at Chambers Wales.
“We are starting to see the early framework of a long-term approach to business support through the UK Government’s new Industrial and Trade Strategies. That could provide relief for some of the recurring issues raised by Welsh businesses.”
With the global economy in flux and tariff policy uncertain, Welsh firms face a complex operating environment. However, increased export interest and workforce development initiatives suggest that many businesses are planning for long-term growth—even amid volatility.
Chambers Wales says it will continue working closely with businesses, policymakers and international partners to shape trade policy and strengthen the region’s global competitiveness.
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