Scotland's International Goods Trade: Quarter 3 2023

Compared to the previous year, the value of Scotland’s international goods exports slightly decreased by 0.3% to £35.1 billion in the year ending September 2023. Scotland was the only UK nation to experience a decrease during this period. In comparison, the UK as a whole saw an increase of 2.7%. However, when oil and gas are excluded, the value of Scotland’s goods exports increased by 4.3%, which was proportionally similar to the 5.3% growth experienced by the UK over this period. 

The largest growth was in the value of Scotland’s power generating machinery exports, which increased by £440 million (up 16.3%). Exports of gas was the only one of Scotland’s top ten exported goods which decreased in export value (down £1.3 billion, 39.1%), and was the largest decrease during this period. This decrease was primarily driven by a large drop in the value of gas exports to Ireland. There was actually a small increase in the volume of gas exports to Ireland over this period however, indicating that this trend is likely due to a fall in the price of gas.   

Exports of oil, drink and power generating machinery had the highest three values for Scotland in the year ending September 2023. 

Table 1. The value of Scotland’s international goods exports by UK nation, £ billions, year ending (YE) September (Q3) 2019, 2022, 2023 

Source: HMRC RTS, Q3 2023 

Figure 1. Scotland was the only UK nation to experience a decrease in international goods exports.  

Percentage change in value of goods exports by UK nation, in the year ending September 2023 compared with the year ending September 2022 

Source: HMRC RTS, Q3 2023 

The fall in international exports seen for Scotland over this period was driven by a fall in the value of gas; most of the other top commodities saw an increase in value terms. Notably there was a decrease in the value of exports of non-ferrous metals (down 74.0%) over this period which was the largest decrease other than the one for gas.  

Figure 2. The value of Scotland’s international goods exports peaked in the fourth quarter of 2022 

Value (£ billion) of Scotland’s international goods exports (quarterly), 2018 Q1 to 2023 Q3 

Source: HMRC RTS, Q3 2023 

Table 2. The value of Scotland’s top ten exported goods, £ billions, in the year ending (YE) September (Q3) 2019, 2022, 2023 

Source: HMRC RTS, Q3 2023 

Figure 3. Scotland’s international goods exports were dominated by oil and drink
The value of each of Scotland’s top ten exported commodities and the percentage of the total value of Scotland’s international goods exports, in the year ending Q3 2023

Source: HMRC RTS, Q3 2023 

The value of all of Scotland’s top ten international exports have increased since the pre-pandemic period (year ending Q3 2019) except for oil. 

It should be noted however that these figures are heavily impacted by inflation; in fact all of the top ten internationally exported commodities actually decreased in volume terms in year ending in September 2023 compared to the previous year with the exception of oil (up 16%) and a modest increase for medicinal & pharmaceutical products (up 4%). Even when comparing to the pre-pandemic period, most of the top ten products saw a decrease in volume, with the exception of gas and other transport equipment which both increased in volume.