WIREDGOV

Finance Secretary John Swinney today welcomed new figures showing the fastest annual growth in Scottish manufactured export sales since 2008. 

Comparing the latest four quarters to the previous four quarters, manufactured export volumes rose 1.9 per cent.

The Quarter 4 Index of Manufactured Exports measures changes, in real terms, in the volume of export sales to the rest of the world from manufacturing businesses located in Scotland.

Results for the quarter show growth in engineering and metal exports, along with non-metal products.

While exports were up on the calendar year, they fell by four per cent on the previous quarter, reflecting, in part, the temporary closure of the Grangemouth complex, which contributed to a 20 per cent fall in exports of petroleum, chemicals and pharmaceutical products, a key sector which accounts for almost a quarter of Scottish exports.

Exports of food and drink products were down 5.5 per cent during the last quarter, but the sector saw continued export growth, of 2.4 per cent, over the year.

Welcoming the figures, Finance Secretary John Swinney said: “The annual growth in manufactured exports – the fastest seen since 2008 – is welcome news for Scottish businesses and the wider Scottish economy. 

“This comes in the same month employment levels in Scotland surpassed pre-recession levels, reaching a record high, and the latest GDP figures show sustained economic growth over the last seven quarters, demonstrating the continued recovery of Scotland’s economy.

“While this annual growth in exports is welcome news, the four per cent fall in exports over the most recent quarter shows the continued challenges facing Scotland in the global marketplace, where the muted recovery in the Euro area and volatility in emerging economies continues to have an impact across a range of export areas.

“As we saw in the economic growth figures for this quarter the temporary shutdown at the Grangemouth petrochemical complex has had a one-off impact on production and sales of refined petroleum, chemicals and pharmaceutical products. Given the sector accounts for almost a quarter of exports this fall has had a significant impact on the overall figures, however we expect these figures to bounce back in future results. 

“On food and drink, while there has been a fall in exports in the last quarter this comes against a backdrop of continual growth, which saw exports reach one of the highest levels on record in the first quarter of 2013. 

“The Scottish Government is determined to do more to support export businesses, and that is why we are working with Scottish Development International, Scottish Enterprise, and Highlands and Islands Enterprise to help companies reach new markets.

“Encouraging exports and strengthening Scotland’s manufacturing base is a key part of our vision to improve the country’s economic performance and to create new jobs. 

“With the full powers of independence we would be able to use the full range of economic levers at our disposal to realise our ambition of creating a wealthier and fairer nation.”

Notes To Editors

Further information on Exports statistics within Scotland can be accessed at:www.scotland.gov.uk/exports