Inflation Adjusted HMRC Regional Trade Statistics for Scotland Q3 2024

Goods imports

Over the year to September 2024 Scotland’s goods imports increased in real terms by 1% to a current price value of £22.6 billion.

The increase was largely driven by imports of Metalliferous ores & metal scrap (up 148%), General industrial machinery (up 32%) and Manufactures of metal (up 30%). Metalliferous ores & metal scrap was the largest increase, and accounted for around a fifth of the overall increase.

There were decreases in real terms in Power generating machinery (down 27%), Office machinery (down 12%) and Professional & scientific instruments (down 22%).

EU imports increased by 2% in real terms between the year ending September 2024 and the previous year, driven largely by imports of General industrial machinery (up 57%). Imports from non-EU countries decreased in real terms by 1% over this period, which was driven by imports of Power generating machinery (down 29%).

Figure 6. Scotland’s EU and non-EU goods imports in real terms diverged during the pandemic and have only recently converged again

Index of Scotland’s international goods imports in real terms (CVM) by destination, 2017 Q3 to 2024 Q3. Average of the year ending September 2018 = 100. 

From around the start of 2020, the EU real terms import series for Scotland has mostly remained below that of non-EU imports. 

Over the longer term Scotland’s imports in real terms have increased (up 2% in the year ending September 2024 since the corresponding period in 2018). EU imports decreased by 5% over this period, while non-EU imports increased by 6%.