WIREDGOV

Exports rise on last quarter.

The volume of manufactured goods sales to overseas markets grew by 2.8 per cent during the second quarter of 2014, according to figures published yesterday.

Exports of refined petroleum, chemical and pharmaceutical products grew by 4.4 per cent and engineering and allied industries exports rose by 4.7 per cent during the same period.

The volume of exports rose by 0.5 per cent on an annual basis. Over the past year, non-metallic products, other manufacturing and repair increased by 11.4 per cent, metals and metal products grew by 20.3 per cent and textiles, clothing and leather rose by 10.6 per cent.

The Scottish Index of Manufactured Exports also shows a quarterly fall in the food and drink sector by 0.2 per cent. This is largely due to a fall of 0.3 per cent in drink exports.

Commenting on the figures, Finance Secretary John Swinney said:

“Manufactured exports in Scotland have grown strongly over the last quarter and the past year. Latest figures show that there has been significant growth in the refined petroleum, chemical and pharmaceutical products sector, and the engineering and allied industries.

“These figures reinforce the belief that recovery is being felt across most industries, and follows on from recent GDP figures, which show that the Scottish economy moved further beyond its pre-recession peak with GDP growing by 0.9 in the second quarter of 2014, which is the same as the UK as a whole.

“Labour market statistics published this month also show Scotland is outperforming the UK on employment, unemployment and inactivity rates and our economy continues to go from strength to strength.

“We are aware that times remain challenging for many industries, this quarter saw food and drink exports on the whole decrease, with a fall in drink exports. However, the food sector recorded a positive result with growth of 0.7 per cent.

“Through our enterprise agencies, the Scottish Government is committed to strengthening and supporting Scotland’s economic links in overseas markets. By continuing to invest in and increase exports we can help build sustainable economic growth for Scotland and highlight the country’s position as a place of international trade and investment.”

Nick Shields, Director, Scottish Manufacturing Advisory Service, said:

“It is great to see exports showing four quarters of continued growth with strong performances in particular from chemicals and engineering sectors.

“Export performance is a bell-weather for the health of an economy, and in particular the manufacturing sector. A high level of exports indicates that an economy is productive, making products that are not readily available in local markets and at a price customers are willing to pay for and improving operational excellence acts as a foundation for that and is therefore a key enabler of export growth.

“However, whilst it is encouraging to see growth, and optimism, returning, we still have a long way to go to meet our export targets. For engineering and manufacturing businesses, large and small, the challenge is in front of us and it is our role to support these firms on their growth journey.”

Notes To Editors

Further information on Exports statistics within Scotland can be accessed at:http://www.scotland.gov.uk/topics/statistics/browse/economy/IME2014Q2