Scotland’s International Goods Trade: Quarter 3 2022

Despite a decrease of £260 million (down 5.9%) in the first nine months of 2022 compared to the equivalent period in 2019, the Netherlands remained the top destination for Scotland’s exports, with £4.2 billion of goods exported to the Netherlands during this period. Exports to the Netherlands accounted for 16% of Scotland’s total goods exports during this period.

Ireland was Scotland’s second largest export destination. The value of exports to Ireland experienced strong growth in the first nine months of 2022 (up £2.0 billion, 217.1%) compared to the first nine months of 2019. This increase was driven by a rise in the value of gas exports to Ireland, which grew by more than sevenfold (up £2.1 billion, 756.8%). Much of the increase in the value of gas exports to Ireland was likely due to a rise in the price of gas, since net mass of gas exports only increased by 44.7%.

There was also a large increase in the value of goods exports to France (up £618 million, 46.6%) and a large proportional increase in exports to Sweden (up £370 million, 136.9%) during this period.

Of all Scotland’s export destinations, China saw the largest decrease in export value, dropping by £3.0 billion (down 82.6%). There were also large decreases in the value of goods exports to USA (down £210 million, 6.9%), and Germany (down £725 million, 27.5%). For all of these countries the decrease was driven by drops in the value of oil exports.

Figure 10. Despite a decrease, the Netherlands remained Scotland’s top destination for goods exports
Value of goods exports to top ten export destination countries and percentage change, Q1 + Q2 + Q3 2022 compared with Q1 + Q2 + Q3 2019

Source: HMRC RTS, Q3 2022

Table 7. The value of goods exports excluding oil and gas to the top ten export destination countries in the first nine months (Q1 + Q2 + Q3) of 2019-2022

Source: HMRC RTS, 2022 Q3

Figure 11. When oil and gas are excluded, USA was the top export destination for goods exports
Value of goods exports to top ten export destination countries and percentage change excluding oil and gas, Q1 + Q2 + Q3 2022 compared with Q1 + Q2 + Q3 2019

Source: HMRC RTS, Q3 2022

When oil and gas are excluded from the total goods exports, USA emerges as the top export destination for goods exports in the first nine months of 2022. There was an increase in the value of goods exports to the USA (up £175 million, 6.9%) to £2.7 billion in the first nine months of 2022 compared to the first nine months of 2019, excluding oil and gas. There was also growth in the value of goods exports to the Netherlands (up £511 million, 80.2%), France (up £345 million, 29.7%) and India (up £319 million, 108.9%) excluding oil and gas during this period. During this period, India has risen to be Scotland’s fifth top export destination for goods other than oil and gas, due mostly to increases in exports of non-ferrous metals and beverages.

On the other hand, there were decreases in the value of goods exports to Russia (down £109 million, 70.9%), Ireland (down £88 million, 15.1%) and Hong Kong (down £52 million, 17.4%)  excluding oil and gas during this period.