Value of Scotland’s international exports hits £36.7bn, outpacing UK average

Value of Scotland’s international exports hits £36.7bn, outpacing UK average

Scotland is outpacing the UK in the growth of goods exports, according to figures from the HMRC Regional Trade Statistics for Q2 2023.

The data reveals that the value of Scotland’s international goods exports surged by 12.6% to £36.7 billion for the year ending June 2023, slightly ahead of the UK’s overall growth of 12.2%.

Notably, when the oil and gas sectors are excluded, Scotland saw an even more robust growth of 13.2% compared to the UK’s 12%. Among various categories, the drinks sector showed exceptional performance with a £829 million rise, marking a 17.1% increase.

Commenting on the statistics, Trade Minister Richard Lochhead said: “These figures show a strong performance for Scotland’s exports, despite these very challenging economic times.

“They are testament to the resilience and quality of Scottish businesses, and highlight the success of our export growth plan, which aims to increase the value of our exports to 25% of GDP by 2029.

“Exports boost the economy by driving growth and creating jobs. They are a key part of our National Strategy for Economic Transformation and we continue to develop Scotland’s world class expertise in areas such as life sciences, renewables, DigiTech and food and drink, and through initiatives such as the Scottish Government’s Innovation Strategy.”

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