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Index of Manufactured Exports 2012 Q2

IME Analysed by Industry Sectors (seasonally adjusted)

Quarterly Growth

In the latest quarter the largest contribution to the fall in exports was from Food & Drink (-5.4%). Within this sector, the largest negative growth was in drink exports, which fell by 5.8 per cent from the first quarter of 2012 compared to a fall by 1.1 per cent in food and tobacco.

There were also quarterly falls in the exports from the Engineering & Allied Industries (-4.1%), the Chemicals & Refined Petroleum sector (-1.5%), the Metals & Metals Products sector (-6.7%), and the Textiles, Clothing & Leather sector (-5.3%).

Exports from the Wood, Paper, Publishing & Printing sector grew by 1.4 per cent from the first quarter of 2012.

 

Annual Growth

The total volume of exports from the manufacturing sector in Scotland grew 1.7 per cent on an annual basis to the end of June 2012 (4Q-on-4Q), with growth in most sectors and subsectors.

The largest contribution to annual growth was the Food & Drink sector (+5.4%), followed by Transport Equipment (+11.9%), Mechanical Engineering (+8.7%), Textiles, Clothing & Leather (+5.2%) and Chemicals & Refined Petroleum Products (+2.0%). The largest negative contribution offsetting this growth is the fall in Wood, Paper, Publishing & Printing (-12.9%).

 

 

Key Trends

 The annual rate of growth in manufactured exports (4Q-on-4Q) has slowed in the latest quarter, from 4.2 per cent to 1.7 per cent. This reflects the slowing of quarterly growth in the second half of 2011, following strong results at the start of the year.

 IME 2012Q2 - chart2

The index of manufactured exports fell more than 13 per cent during the recession in 2008/9. Since then the trend in the results shows a recovery in export volumes, although the quarterly growth rates have been relatively volatile. The latest results show that export volumes remain around 10.4 per cent below their pre-recession level.


Growth and Contribution To Growth

 

Percentage Growth: latest quarter on previous quarter      
  2011 Q2 2011 Q3 2011 Q4 2012 Q1 2012 Q2
Total Manufacturing 2.0% 0.1% -0.4% -0.9% -4.0%
Food, Drink & Tobacco 2.5% 3.1% 1.5% -2.9% -5.4%
Textiles, Clothing & Leather 4.0% -1.6% 6.0% -5.0% -5.3%
Wood, Pulp, Paper, Publishing & Printing -9.9% -4.0% -1.5% -5.5% 1.4%
Chemicals, Coke, Refined Petroleum & Nuclear Fuel 3.5% -3.2% -3.5% 2.3% -1.5%
Metal & Fabricated Metal Products -6.0% 9.8% -11.7% -7.0% -6.7%
Engineering & Allied Industries 3.3% -1.9% 1.3% 0.9% -4.1%
Other Manufacturing 1.1% 2.4% -6.8% -0.2% -3.0%
           
Contribution to Growth: latest quarter on previous quarter      
  2011 Q2 2011 Q3 2011 Q4 2012 Q1 2012 Q2
Food, Drink & Tobacco 0.7 0.9 0.5 -0.9 -1.6
Textiles, Clothing & Leather 0.1 0.0 0.2 -0.1 -0.1
Wood, Pulp, Paper, Publishing & Printing -0.4 -0.1 -0.1 -0.2 0.0
Chemicals, Coke, Refined Petroleum & Nuclear Fuel 0.5 -0.5 -0.5 0.3 -0.2
Metal & Fabricated Metal Products -0.3 0.4 -0.6 -0.3 -0.3
Engineering & Allied Industries 1.3 -0.7 0.5 0.3 -1.6
Other Manufacturing 0.1 0.1 -0.4 0.0 -0.2
           
Percentage Growth: latest 4 quarters on previous 4 quarters      
  2011 Q2 2011 Q3 2011 Q4 2012 Q1 2012 Q2
Total Manufacturing 2.5% 3.2% 5.1% 4.2% 1.7%
Food, Drink & Tobacco 3.0% 5.5% 8.2% 8.8% 5.4%
Textiles, Clothing & Leather 19.7% 22.0% 21.4% 12.8% 5.2%
Wood, Pulp, Paper, Publishing & Printing 1.7% -1.6% -6.6% -13.0% -12.9%
Chemicals, Coke, Refined Petroleum & Nuclear Fuel 1.2% 3.5% 8.4% 5.6% 2.0%
Metal & Fabricated Metal Products 9.9% 5.6% 3.0% -4.1% -6.2%
Engineering & Allied Industries -0.3% -0.3% 2.0% 2.7% 1.3%
Other Manufacturing 12.5% 11.3% 6.0% 3.8% -0.8%
           
Contribution to Growth: latest 4 quarters on previous 4 quarters    
  2011 Q2 2011 Q3 2011 Q4 2012 Q1 2012 Q2
Food, Drink & Tobacco 0.9 1.6 2.4 2.6 1.6
Textiles, Clothing & Leather 0.4 0.5 0.5 0.3 0.1
Wood, Pulp, Paper, Publishing & Printing 0.1 -0.1 -0.3 -0.6 -0.5
Chemicals, Coke, Refined Petroleum & Nuclear Fuel 0.2 0.5 1.2 0.8 0.3
Metal & Fabricated Metal Products 0.4 0.3 0.1 -0.2 -0.3
Engineering & Allied Industries -0.1 -0.1 0.8 1.1 0.5
Other Manufacturing 0.6 0.6 0.3 0.2 0.0

Components may not sum to totals due to rounding