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Scottish industry boosted by export growth

Posted on 31 Mar 2018 and read 2779 times
Scottish industry boosted by export growthScottish exports rose by 19% last year (above the UK average of 13%), boosted by a recovery in the oil and gas sector, according to data released earlier this month by HMRC.

Economy Secretary Keith Brown praised the “strong growth” and said it showed that “confidence” is returning to the oil and gas industry.

Countries outside the European Union accounted for 51% of Scottish goods exports in 2017, compared to 53% in 2016, but exports to the EU increased by 24%, and the Netherlands overtook the USA to become Scotland’s largest export partner.

Exports to the Netherlands increased 41% (to £4.32 billion), as did exports to China (£2.23 billion).

Meanwhile, exports to Norway and Saudi Arabia fell by 26% (to £279 million) and by 30% (to £131 million) respectively.

Exports of petroleum, petroleum products and related materials grew fastest in 2017, up by 46% to £2.69 billion. Mr Brown said: “I’m sure many people in Scotland will be encouraged by these statistics, which clearly show that Scotland’s export industry is showing strong growth.

“These figures are positive — across a number of sectors and across a number of global markets. There was also welcome news for oil and gas, with the increase in exports clearly demonstrating that confidence is returning to that sector.”