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Friday, February 23, 2024

Scottish Trade Outperforming Other UK Nations

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Office for National Statistics data indicates “very positive” signs for Scotland.

Figures released by the Office for National Statistics (ONS) show Scotland’s trading performance as the strongest of the UK nations.

The experimental statistics provide estimates of the value of international imports and exports and total trade from 2016 to 2021 from each area of the UK.

They show that:

  • In 2021 Scotland had the highest trade surplus, at £20.9 billion, of all the four UK nations and the UK as a whole
  • The estimated value of Scotland’s trade surplus in 2021 was at its highest point in the five years measured

Commenting on the findings, Trade Minister Richard Lochhead said:

“The ONS statistics paint a very positive picture of Scotland’s trade performance over this period.

“These figures – while experimental and open to revision – are testament to the resilience and quality of Scottish businesses, and highlight the success of our export growth plan, which was launched in 2019 with the goal of increasing the value of exports from to 25% of Scotland’s GDP.

“Exports boost the economy, drive growth and create jobs.

“They are a key element of our National Strategy for Economic Transformation and we continue to develop Scotland’s world class expertise in areas such as life sciences, digitech and food and drink through initiatives such as the Scottish Government’s recently launched Innovation Strategy.”

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