Scots goods exports soar to £34bn; Europe buys 50%

The Scottish Government said that more than half of all Scottish goods exports were sent to Europe in the last quarter, citing HMRC regional trade statistics.

It said the value of Scotland’s total annual goods exports increased 14.5% or £4.3 billion to £34 billion in the year ending 30 June 2019.

This was a higher growth rate than the overall UK figure of 3.3% and the highest percentage increase of any UK nation.

Over the past year, Scottish goods exports to Europe have increased 11.8% to £17.3 billion. 
 
Finance Secretary Derek Mackay said: “In spite of the uncertainty being caused by Brexit, these statistics demonstrate a thriving export industry in Scotland, with demand for Scottish products like mineral fuels, machinery, whisky and salmon continuing to rise across the globe.

“However, the figures also provide a timely reminder of the vital importance of the European single market and customs union to the Scottish economy, which is eight times bigger in population terms than the UK market alone.

“By leaving the European Union we risk irreparably damaging that relationship – all the more so if we leave without a deal.

“The financial implications of that outcome could be disastrous for Scotland.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.