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Insider UK
Business
Peter A Walker

Scotland's trade figures fall fast during pandemic

Scotland's exports fell by 21.7% to £25.6bn during the year to March 2021, while imports dropped 14% to £19.7bn, according to the latest HM Revenue & Customs figures.

The nation's largest export trading partner by value was The Netherlands, at £4.5bn, while the largest import partner was China, at £3.2bn.

Mineral fuels, lubricants and related materials were Scotland's top exported commodities - although this still fell by 45.7% to £7.1bn.

All four UK countries had a decrease in the value of exports and imports compared with the previous 12 months.

However, Trade Minister Ivan McKee was quick to point out that the Scottish figures compare favourably with a reduction across the rest of the UK.

“The pandemic represents a worldwide challenge, but the figures also make clear that the UK Government’s decision to leave not just the EU but also the Single Market and Customs Union is imposing a significant additional burden on some Scottish businesses.

“While food and drink exports to the EU recorded a fall of 12% over the year to March, this accelerated to 20% between January and March following the end of the EU transition period,” McKee stated.

“These statistics further support our call for the UK Government to re-engage in good faith with the EU and find pragmatic solutions to the blockages confronting businesses.

“The Scottish Government is using all the levers at its disposal to support exporters and build on Scotland’s global strengths as we renew our economy,” he added, noting that the Scottish Government remains focused on growing the value of exports from 20% to 25% of GDP over the next decade.

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