In this paper, the economic importance of the healthcare sector to the Welsh economy is explored. We use a large number of data sources for the UK and Welsh economy to derive an economic model for 2017. This economic modelling aims to quantify the contribution of the healthcare sector (the National Health Service, NHS) to the wider economy in Wales, looking at the economic output, population income, value added imports, and employment. Results suggest that the healthcare sector has an above average contribution in four explored economic aspects of the Welsh economy (output, income, employment, value-added), according to its impact on the surrounding economic ecosystem. A summary of the report has been developed to support and inform national and international stakeholders across various sectors, including economics, finance, health, and policy. It is particularly useful for those working in relation to the Foundational Economy, Social Value and Wellbeing Impacts and Value-Based Health.