GOODS exports from Scotland grew by almost a fifth to reach £28 billion, new UK Government figures have revealed.
The rise in overseas sales was the highest for any country in the UK in the year to September 2017 - with the increase largely down to a £2.6 billion upturn in oil and gas exports.
The sector saw sales to other countries grow by 43.4%, contributing to an overall rise in exports from Scotland of 19.9%.
Scotland's increase in exports was ahead of Wales (18.9% up), England (14.1%) and Northern Ireland (13.3%).
The figures - the latest regional trade statistics from HM Revenue and Customs (HMRC) - showed Scotland experienced a 21.7% rise in goods being sold to the European Union.
Economy Secretary Keith Brown said the data reinforced the importance of remaining in the European single market.
He said: "HMRC regional trade statistics published today show that Scotland's annual goods exports are growing faster than the UK as a whole - up 19.9% on last year to a total of £28 billion.
"The increase in these returns was largely driven by an upturn in the fortunes of our oil and gas exports, which grew by 43.4% or £2.6 billion.
"Scotland's goods exports to the EU have also increased by 21.7% to £13.4 billion, further emphasising the vital importance of the EU single market - our largest trading partner - to our economic prosperity."
Mr Brown added: "The EU single market has removed barriers to trade and opened Scotland to a market of over 500 million people and 21 million small and medium-sized enterprises.
"Leaving the single market and customs union could potentially increase the cost of exporting to EU markets, reduce the country's attractiveness to overseas investors and impose restrictions on labour, thus increasing skills shortages and reducing productivity."
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel