Exports statistics Scotland 2021

The value of exports for some industry sectors declined since 2019

We looked at the change in export value between 2019 (pre-pandemic) and 2021, for all industry sectors across international and rest of UK destinations and then EU and non-EU destinations. This section describes the sectors that showed the largest declines.

Between 2019 and 2021, the estimated value of international exports of ‘financial and insurance activities’ decreased by £820 million (30.4%). The value of these exports experienced a large drop in 2020 and then remained relatively stable in 2021. This decline in international exports of ‘financial and insurance activities’ in 2020 was primarily driven by exports to non-EU destinations, which dropped by over a third (down 37.7%, £695 million).​ As a result, these exports to non-EU destinations experienced the largest drop in export value among sectors exporting internationally between 2019 and 2021 (down 38.2%, £705 million).

The value of international ‘transportation and storage’ exports also decreased between 2019 and 2021, dropping by around a third (33.8%), down £805 million. However, the fall in value for this industry was greater in 2021 than in 2020, driven by a drop of over a third (34.8%, £500 million) in the value of transportation and storage exports to the EU between 2020 and 2021.

Figure 11. The largest value decrease between 2019 and 2021, was in international exports of ‘financial and insurance activities’

The five destinations and sectors among international and rest of the UK exports that experienced the largest negative change in estimated export value between 2019 and 2021

Between 2019 and 2021, the value of EU exports of ‘coke, refined petroleum chemicals and chemical products’ decreased by around a fifth (20.1%, £625 million). This decline was due to a large fall in 2020, which did not fully return to pre-pandemic level in 2021.​

Figure 12. Among EU and non-EU exports, the largest value decrease between 2019 and 2021, was in ‘financial and insurance activities’ to non-EU destinations

The five destinations and sectors among EU and non-EU exports that experienced the largest negative change in estimated export value between 2019 and 2021