Inflation Adjusted HMRC Regional Trade Statistics for Scotland Q4 2024
Part of
Destinations
The EU remains Scotland’s top destination, accounting for around 39% of the value of Scotland’s total goods exports.
In the most recent 12 months, Scotland’s goods exports to the EU decreased by 8% in real terms to £7.2 billion. This was driven by a 26% decrease in Medicinal & pharmaceutical products, a 50% decrease in Organic chemicals and a 22% decrease in Chemical materials & products.
Over the longer term, there was an 18% decrease in EU exports since the pre-pandemic period baseline in 2018.
Figure 7. The EU accounts for 39% of international goods exports.
Value of Scotland’s international goods exports in 2024
The largest increases in goods exports in the last 12 months has been to Latin America and the Caribbean (up 70%) and North America (up 5%), though these are outweighed by decreases in exports to the EU (down 8%) and Asia and Oceania (down 9%).
Figure 8. Goods exports to the EU are down by £593 million since 2023
Real terms change in Scotland’s goods exports: 2024 compared to the previous year