Inflation Adjusted HMRC Regional Trade Statistics for Scotland Q1 2024
This report contains inflation adjusted HMRC Regional Trade Statistics for Scotland.
Erratic series
In current prices
Erratic commodities can make a large contribution to trade in goods, but often mask the underlying trend in the export or import values due to their volatility. To aid understanding of trends in real terms mineral fuels and erratic items are excluded from CVM estimates.
There was a considerable decrease in the current price value of non-ferrous metals exports for Scotland between 2022 and 2023 (down £486 million, 63%). The same dramatic decrease was not seen in the volume series however, which only decreased by 10%.
Other transport equipment is an important commodity category for Scotland, and often ranks in the top ten exports in value terms. The current price value of Scotland’s other transport equipment exports increased by £104 million (up 11%) in the year ending March 2024 compared to the previous year. However the volume exported decreased by 23%, indicating a strong impact of price changes. Around 51% of the value of Scotland’s exports of other transport equipment came from exports to the EU.
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