Significant Growth in First Half of 2022
HMRC statistics released today show that Scotland has again outperformed the UK where exports are concerned in the first six months of 2022.
Scottish exports continue to show strong performance and growth across a number of commodities, with beverages increasing by £478m, chemicals up £399m and manufactured goods up £280m.
The figures reveal total international goods exports excluding oil and gas are up 12.9% compared to the first six months of 2019. Over the same period the UK as a whole saw a 0.5% decrease.
Latest HMRC statistics show Scotland’s international goods exports (excluding oil & gas) have grown 12.9% in the first six months of 2022 when compared to the same period in 2019.
The UK as a whole saw a 0.5% decrease, over the same period.
— Scottish Government Finance and Economy (@scotgoveconomy) October 6, 2022
Goods exports to the EU grew by 20.4% in this period (again excluding oil and gas), further underlining the importance of EU markets to Scottish businesses.
The latest BICS survey data also shows that many Scottish businesses reported additional costs due to Brexit, with around 27% facing higher transportation costs, 16% reporting additional costs due to changing supply chains and further 15% due to increased red tape.
These are very welcome and encouraging statistics.
They are a clear indication of the strength of the Scottish economy, but also the importance of EU trade to this economy.
I am pleased to see the Scottish Government’s Export Growth Plan undoubtedly working to offset the barriers created by Brexit.
While Scotland’s full potential can only be unleashed with independence, this SNP government will continue to focus on economic recovery from the pandemic – through the National Strategy for Economic Transformation.