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Regional trade statistics

47% of exports form Scotland are to the EU.

Commenting on the HMRC - Regional Trade Statistics - 2017 Quarter 2 today, Economy Secretary Keith Brown said:

“These figures show that Scotland’s goods exports continued to grow in this quarter, increasing by 21% to £27.1 billion. This is higher than the overall UK rate and the highest of any UK nation.

“It is particularly heartening to note that this has been largely driven by growth in the oil and gas industry, with exports up 38%, or £2.2 billion. This equates to roughly 30% of all goods exported from Scotland and is evidence that confidence is returning to the sector.

“The fact that these figures show that 47% of all Scotland’s goods are exported to the EU, reaffirms its value to Scotland as a trading partner, confirming that it remains a vital market for Scotland’s international exports.

“However, I am extremely concerned that the UK Government is cutting Scotland out of key decisions around Brexit and the wider economy.

“Today, the UK Government is convening a meeting of the Board of Trade to consider Brexit, along with key economic issues of importance to all UK devolved nations. There was a complete lack of engagement over the Board of Trade, which will have no representation on it from the Scottish Government, and it is completely unacceptable that we were kept out of the loop on the publication of the UK Government’s trade paper published earlier this week.

“Removing Scotland from the EU single market and customs union will cause severe long-term economic damage, opening us up to a range of tariffs which will make our goods and services less competitive. As a matter of urgency the UK Government needs to start listening to the overwhelming body of opinion in Scotland that wants the UK to stay in the Customs Union and Single Market.”

“Despite the threat of Brexit, we will continue to do all that we can to support the Scottish economy and grow exports further, including the delivery of our trade and industry strategy and our four point plan to boost export performance.”

 

Channel website: http://www.gov.scot/

Original article link: https://news.gov.scot/news/regional-trade-statistics

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