Scottish exports climb in 2014

Posted on 29 Jan 2015 by Victoria Fitzgerald

The latest results from the Scottish Index of Manufactured Exports for the third quarter of 2014 showed a real-terms rise of 1.8% from the previous three months.

The largest contributors to the quarterly increase were the food and drink industries and the refined petroleum, chemical and pharmaceutical products (RPCPP), which together account for around half of international manufactured exports from Scotland.

The volume of exports from the food and drink industries rose 0.6% over the quarter, with increases in both the drink subsector (+0.6%) and the food subsector (+0.4%).

The volume of RPCPP exports expanded 8.9% from the previous quarter. Real-term increases were also registered by metals and metal Products (+2.7%), wood, paper and printing (+1.4%), and textiles, clothing and leather (+9.6%).

Engineering & Allied Industries recorded a quarterly fall in export volumes of 1.1%, a result of a contraction in transport equipment (-10.9%) more than offsetting growth in mechanical engineering (+1.4%) and electrical and instrument engineering (+2.0%).

Export volumes from the non-metallic products, other manufacturing and repair sector were also down over the quarter (-2.9%).

Lindsay Whitelaw, director, URICA Limited, said: “It is great to see exports showing continued growth with strong performances in particular from chemicals and Food & Drink industries sectors.

“Export performance is an indicator for the health of an economy, and in particular the manufacturing sector. A high level of exports indicates that an economy is productive, making products that are not readily available in local markets and at a price customers are willing to pay for.

“However, whilst it is encouraging to see growth, and optimism, returning, Scotland still has a long way to go to meet the export targets for 2017.

“For engineering and manufacturing businesses, large and small, the challenge is in front of us and getting paid early cash on exports through URICA can support these firms on their growth journey.”