Scotland’s export value declines
An Accredited Official Statistics Publication.
Valued at £38 billion in 2023, Scotland’s international exports are estimated to have fallen by 4 per cent in real terms since 2018, a comparison chosen for stability prior to economic impacts like pandemic lockdowns, EU withdrawal and the invasion of Ukraine.
Export statistics published today by the Scottish Government adjust for years of high inflation which can mask changes in export performance. The estimates focus on the onshore economy and therefore exclude oil and gas exports.
The figures show declines in export value were driven by manufacturing sectors. In particular exports of ‘coke, refined petroleum & chemicals’ and ‘transport equipment’. ‘Food & drink’, worth £7.5 billion, remained Scotland’s largest international export sector, accounting for a fifth of Scotland’s international exports, despite a 5 per cent real terms decrease since 2018.
Scotland’s exports to non-EU destinations, valued at £21 billion, were broadly similar to 2018 levels when accounting for inflation. However, exports to EU destinations were estimated to have fallen by 11 per cent in real terms, to £17 billion.
After the EU single market, the USA remained Scotland’s second largest international export destination, accounting for 17 per cent of international exports.
Exports to other UK regions, worth an additional £55 billion in 2023, continue to outweigh international exports. Exports to the rest of the UK fell by 10 per cent between 2018 and 2023, with ‘financial & insurance’ exports, the largest sector for exports to UK regions, driving this decline with a 30% real terms decrease since 2018.
Background
The full statistical publication is available online, along with accompanying Excel tables. Detailed interactive analysis by sector and destination are available on the Scottish Government’s Export Performance Monitor.
Export Statistics Scotland 2023 provides estimates of the value of Scotland’s international exports and exports to the rest of UK. Export values are provided for all manufacturing and service sectors except oil and gas.
This publication is the first since 2019 to report change over time in real terms (adjusted for inflation), which provides a more accurate assessment of export performance over time.
Official statistics are produced in accordance with the Code of Practice for Statistics.