Inflation Adjusted HMRC Regional Trade Statistics for Scotland Q3 2024

Goods trade by destination

In current prices

The EU was Scotland’s top goods export destination in the year ending September 2024, accounting for 39% (£8.3 billion) of the value of Scotland’s total goods exports during this period. Drink was the top export, making up 14% (£1.1 billion) of the value of Scotland’s total goods exports to the EU. See Goods exports to the EU for further details.

The United States is also an important trading partner, making up 17% of the value of Scotland’s international goods exports. Scotland’s exports to the United States decreased by £202 million since the previous year, which was driven largely by a decrease in the current price value of Drink (down £217 million in current prices), Chemical materials & products (down £49 million), and Organic chemicals (down £23 million)

There were increases in the current price value of General industrial machinery (up £32 million), Fish and shellfish (up £27 million), and Medicinal & pharmaceutical products (up £22 million) exports to the United States.

Scotland’s goods exports to the United States saw a decrease in value terms, and there was also an 11% decrease in volume terms since the previous year. 

The top ten export destinations accounted for 77% of the total value of Scotland’s goods exports. Of the top ten export destinations India and Brazil saw the largest growth, increasing by £138 million and £76 million in current prices respectively.

The destinations with the greatest declines in current price export value between the year ending September 2024 and the previous year were the Netherlands (down £410 million), from EU destinations, and the United States (down £202 million), from non-EU destinations. 

Figure 7. The EU was the top export destination for Scotland’s goods exports

Value of goods exports to the top ten export destination countries in current prices and percentage of total in the year ending September 2024 

In terms of Scotland’s imports, the EU was the top trading partner accounting for 49% of the value of Scotland’s goods imports in the year ending September 2024, followed by United States (13% of the value of total imports), and China (13% of total import value).

The greatest increase in import value since the previous year was seen in imports from United States (up £128 million in current prices) while imports from the EU saw the largest decrease (down £486 million in current prices). 

Figure 8. The EU was the top region for Scotland’s goods imports

Value of goods imports in current prices for the top regions and percentage of total imports in the year ending September 2024