Scotland's International Goods Trade: Quarter 2 2023
This report contains Scotland's trade in goods data from the latest release of HMRC's Regional Trade Statistics (RTS).
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In the year ending June 2023 compared to the previous year, the Netherlands remained Scotland’s top goods export destination, accounting for a fifth (19%, £7.0 billion) of the value of Scotland’s goods exports during this period.
Scotland’s goods exports to the Netherlands increased by 15.5% (up £938 million) during this period, which was primarily driven by an increase in oil exports (up £683 million, 15.1%). Oil exports accounted for around three quarters (74%) of the value of Scotland’s total goods exports to the Netherlands. Over half (54%) of the value of Scotland’s total oil exports were to the Netherlands.
It should be noted that the Rotterdam effect may have an impact on the interpretation of these figures; this effect refers to the possibility that trade flows through major ports like Rotterdam may ultimately be on their way to final destinations outside of that country. Therefore the figures for the Netherlands may be inflated.
The top ten export destinations accounted for two thirds (66%) of the total value of Scotland’s goods exports.
Figure 10. The Netherlands remained Scotland’s top destination for goods exports in the most recent year
Value of goods exports to top ten export destination countries and percentage of total exports in year ending June 2023
Source: HMRC RTS, Q2 2023
Table 7. The value of Scotland’s goods exports to the top ten export destination countries, £ billions, year ending (YE) June (Q2) 2019, 2022, 2023
|
Country |
YE Q2 2019 |
YE Q2 2022 |
YE Q2 2023 |
YE Q2 2019 v YE Q2 2023 (%) |
YE Q2 2022 v YE Q2 2023 (%) |
|
Netherlands |
6.7 |
6.1 |
7.0 |
4.8% |
15.5% |
|
United States |
4.4 |
3.5 |
3.9 |
-10.5% |
11.5% |
|
Irish Republic |
1.4 |
3.2 |
3.6 |
151.7% |
10.6% |
|
Germany |
3.1 |
2.5 |
2.7 |
-14.2% |
8.4% |
|
France |
1.7 |
2.6 |
2.4 |
43.2% |
-7.3% |
|
Poland |
0.6 |
0.5 |
1.3 |
94.6% |
137.8% |
|
Spain |
0.9 |
0.8 |
0.9 |
5.3% |
11.1% |
|
China |
3.4 |
0.8 |
0.9 |
-73.1% |
16.5% |
|
Norway |
0.9 |
0.7 |
0.9 |
-5.4% |
25.6% |
|
Italy |
0.8 |
0.9 |
0.8 |
-0.7% |
-14.9% |
Source: HMRC RTS, Q2 2023
When oil and gas are excluded, USA emerges as the top goods export destination, accounting for 16% (£3.8 billion) of the value of Scotland’s goods exports in the year ending June 2023 compared to the previous year. Over a quarter (27%) of Scotland’s total goods exports to USA were drinks, which was a 11.9% (£110 million) increase over this period. Almost a fifth (18%) of Scotland’s total drinks exports were to the USA. The value of Scotland’s oil exports to USA decreased by 59.3% (down £126 million) over this period.
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 of total excluding oil and gas, year ending June 2023
Source: HMRC RTS, Q2 2023
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