Scotland's International Goods Trade: Quarter 2 2023
This report contains Scotland's trade in goods data from the latest release of HMRC's Regional Trade Statistics (RTS).
Compared to the previous year, the value of Scotland’s goods exports to the EU in the year ending June 2023 increased by 12.4% (£2.4 billion) to £21.8 billion. The value of goods exports from the UK to the EU experienced a comparable 12.3% increase over this period. When oil and gas are excluded, the value of Scotland’s goods exports to the EU experienced a smaller increase of 7.3% in the year ending June 2023 compared with the previous year, which is less than the 10.2% increase experienced by the UK.
The increase in value of Scotland’s exports to the EU in the year ending June 2023 compared to the previous year, was primarily driven by an increase in the value of Scotland’s exports of oil to the EU (up £1.7 billion, 22.1%). Other transport equipment also showed a large increase (up £323 million, 119.8%) as did most of the other products in Scotland’s top ten exported products to the EU over this period.
The only products in Scotland’s top ten exported goods to the EU to experience a decrease were chemical materials & products (down £55.9 million, 11.0%) and fish & shellfish (down £12.3 million, 1.5%).
Over the longer term, the value of Scotland’s goods exports to EU countries increased by almost a quarter (24.2%, up £4.2 billion) in the year ending June 2023 compared with the year ending June 2019. This was greater than the 14.1% increase experienced by the UK and was larger than the increase for any of the other UK nations. When oil and gas are excluded, the value of Scotland’s international goods exports to EU countries increased by 22.1% in the year ending June 2023 compared with the year ending June 2019, which is still greater than the 8.7% increase experienced by the UK excluding oil and gas.
Table 3. The value of goods exports to the EU by UK nation, £ billions, year ending (YE) June (Q2) 2019, 2022, 2023
|
UK Nation |
YE Q2 2019 |
YE Q2 2022 |
YE Q2 2023 |
YE Q2 2019 v YE Q2 2023 (%) |
YE Q2 2022 v YE Q2 2023 (%) |
|
Scotland |
17.5 |
19.4 |
21.8 |
24.2% |
12.4% |
|
Scotland (exc. Oil & Gas) |
7.9 |
9.0 |
9.6 |
22.1% |
7.3% |
|
England |
125.1 |
121.7 |
134.9 |
7.8% |
10.8% |
|
Wales |
10.8 |
10.6 |
11.8 |
9.7% |
11.7% |
|
Northern Ireland |
5.4 |
5.6 |
6.6 |
22.1% |
19.3% |
|
United Kingdom |
171.4 |
174.3 |
195.7 |
14.1% |
12.3% |
|
United Kingdom (exc. Oil & Gas) |
147.8 |
145.8 |
160.6 |
8.7% |
10.2% |
Source: HMRC RTS, Q2 2023
Figure 4. Excluding oil and gas, Scotland had smaller growth in export value to the EU than the UK
Percentage change in the value of goods exports to EU countries by UK nation and UK overall, in the year ending June 2023 compared with the year ending June 2022
Source: HMRC RTS, Q2 2023
Figure 5. The value of Scotland’s goods exports to EU countries has declined in 2023 driven by a drop in the value of oil and gas exports
Value (£ billion) of Scotland’s goods exports to EU countries (quarterly), 2018 Q1 to 2023 Q2
Source: HMRC RTS, Q2 2023
Table 4. The value of Scotland’s top ten exported goods to the EU, £ billions, in the year ending (YE) June (Q2) 2019, 2022, 2023
|
Product |
YE Q2 2019 |
YE Q2 2022 |
YE Q2 2023 |
YE Q2 2019 v YE Q2 2023 (%) |
YE Q2 2022 v YE Q2 2023 (%) |
|
Oil |
9.1 |
7.7 |
9.4 |
2.9% |
22.1% |
|
Gas |
0.5 |
2.7 |
2.8 |
423.9% |
1.5% |
|
Drink |
1.4 |
1.6 |
1.7 |
27.2% |
10.3% |
|
Fish & seafood |
0.7 |
0.8 |
0.8 |
11.1% |
-1.5% |
|
Power generating machinery |
0.3 |
0.7 |
0.8 |
162.1% |
13.3% |
|
General industrial machinery |
0.5 |
0.6 |
0.7 |
44.5% |
19.8% |
|
Other transport equipment |
0.1 |
0.3 |
0.6 |
353.2% |
119.8% |
|
Chemical materials & products |
0.4 |
0.5 |
0.5 |
23.1% |
-11.0% |
|
Medicinal & pharmaceutical products |
0.3 |
0.4 |
0.4 |
45.1% |
11.1% |
|
Electrical machinery & appliances |
0.4 |
0.3 |
0.4 |
-6.1% |
24.5% |
Source: HMRC RTS, Q2 2023
Figure 6. Oil was the top good exported to the EU, accounting for 43% of the value of Scotland’s goods exports to EU countries
Scotland’s top ten exported goods to the EU, in the year ending Q2 2023
Source: HMRC RTS, Q2 2023
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