Almost 36,000 students entered A Level examinations this year and 97.6 per cent achieved A* to E grades.
The Joint Council for Qualifications says the pass rate remained in line with that of 2012, with the percentage of candidates gaining A* grades also stable at six per cent.
The percentage getting A or A* is down for the fourth successive year at 22.9 per cent, compared with 23.6 per cent last year. It was 25 per cent back in 2009. Girls continue to outperform boys with 98.1 per cent of girls achieving A* to E grades, compared to 97 per cent of boys.
A total of 10,362 students completed the Welsh Baccalaureate, with 82.7 per cent of candidates awarded the Advanced Diploma, down slightly from 82.8 per cent last year. The number of students receiving the Advanced Core Certificate rose from 87.6 per cent last year to 88.4 per cent.