The value of Scottish exports has fallen by 5 per cent, in spite of growing trade with countries outside the European Union.
Goods and services, excluding oil and gas, sent to other parts of Britain and overseas were worth £75.6 billion in 2016, £3.9 billion lower than in the previous year, according to official data published yesterday.
The rest of the UK continues to be Scotland’s largest trading partner, accounting for 61 per cent of the total. That was in spite of an 8.8 per cent, or £4.4 billion, decline to £45.8 billion in the total sum of exports to the other parts of the UK. A drop in the level of utilities exports because of the closure of the Longannet power station was one of the largest factors in the fall.
The value of goods and services sent to the European Union dropped 0.8 per cent to £12.7 billion, but exports to non-EU destinations rose by 3.4 per cent to £17.1 billion. A 22 per cent rise in financial services exports and a 5.3 per cent lift in food and drink were the main reasons for the stronger international figures.
Keith Brown, Scotland’s economy secretary, said: “These figures, of course, cover a year of considerable uncertainty with the EU referendum, the downturn in the oil and gas sector and the closure of Longannet — all of which have had an impact. However, it is clear that if the UK government continues in its plan to withdraw from the European single market and the customs union, putting barriers in the way of international exports, that our economy could be severely damaged in future.”
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David Mundell, the Scottish secretary, said: “ We know that more than half a million Scottish jobs depend on the vital UK internal market. As the UK prepares to leave the EU, it is essential that we ensure the UK internal market continues unimpeded.
“The trade figures also show an increase of over half a billion pounds in exports to markets outside the EU. This demonstrates the opportunities that lie ahead for Scottish businesses.”