Scotland’s International Goods Trade: Quarter 3 2022
This report contains trade in goods data from the latest release of HMRC's Regional Trade Statistics (RTS).
Compared to the first nine months of 2019, the value of Scotland’s goods exports to the EU for the first nine months of 2022 showed strong growth, increasing by 19.7% (up £2.5 billion) to £15.1 billion. In comparison, goods exports from the UK to the EU increased by 12.4% over the same period and Scotland’s percentage increase was larger than any other UK region.
Table 3. The value of goods exports to the EU by region for the first nine months (Q1+Q2+Q3) of 2019-2022
|
Region |
2019 |
2020 |
2021 |
2022 |
2019 v 2022 change (%) |
2020 v 2022 change (%) |
2021 v 2022 change (%) |
|
Scotland |
12.6 |
10.2 |
11.1 |
15.1 |
19.7 |
48.1 |
35.4 |
|
Scotland (exc. Oil & Gas) |
5.7 |
5.3 |
5.9 |
6.9 |
20.9 |
29.7 |
16.1 |
|
England |
93.4 |
74.8 |
79.9 |
99.9 |
7.0 |
33.5 |
25.0 |
|
Wales |
8.2 |
5.9 |
6.5 |
8.6 |
5.1 |
46.4 |
33.0 |
|
Northern Ireland |
4.1 |
3.6 |
3.7 |
4.3 |
5.2 |
19.4 |
15.5 |
|
United Kingdom |
127.3 |
102.2 |
110.4 |
143.2 |
12.4 |
40.1 |
29.7 |
|
United Kingdom (exc. Oil & Gas) |
110.8 |
90.2 |
97.5 |
113.1 |
2.1 |
25.3 |
15.9 |
Source: HMRC RTS, 2022 Q3
Figure 4. Scotland saw an increase in the value of goods exports to the EU
Percentage change in goods exports to EU countries by UK region and UK overall, Q1 + Q2 + Q3 2022 compared with Q1 + Q2 + Q3 2019
Source: HMRC RTS, Q3 2022
Figure 5. The value of Scotland’s goods exports to EU countries in Q3 2022 was higher than in Q3 2019.
Value of Scotland’s goods exports to EU countries (quarterly), Q1 2019 to Q3 2022
Source: HMRC RTS, Q3 2022
The increase in value of Scotland’s exports to the EU in the first nine months of 2022 compared to the equivalent period in 2019, was primarily driven by more than a sevenfold increase in the value of Scotland’s exports of gas to the EU (up £2.2 billion, 734.6%). However, the net mass of gas exported only increased by 55.3% over this period, which suggests that an increase in the price of gas may have contributed to this large increase in export value. The increase in the value of gas exports accounted for 90% of the total increase in the value of Scotland’s exports to the EU. When gas is excluded, the increase is reduced to 2.0% over this period.
Exports of other goods to the EU also performed strongly: there were increases in the value of exports of power generating machinery (up £362 million, 157.2%) and beverages (up £149 million, 14.5%). In fact, of the top ten goods exported to the EU, only two experienced a decrease in the first nine months of 2022, compared to the equivalent period in 2019. One of these was oil, which, despite a 14.2% decrease, remained the largest goods export to the EU, valuing £5.7 billion and accounting for over a third (37%) of the total goods exports to the EU in the first nine months of 2022.
Exports of oil, gas, and beverages accounted for almost two thirds (62%) of the value of Scotland’s total exports to the EU in the first nine months of 2022.
Table 4. The value of Scotland’s top ten exported goods to the EU in the first nine months (Q1 + Q2 + Q3) of 2019 – 2022
|
Product |
2019 |
2020 |
2021 |
2022 |
2019 v 2022 change (%) |
2020 v 2022 change (%) |
2021 v 2022 change (%) |
|
Oil |
6,598 |
4,666 |
4,322 |
5,659 |
-14.2 |
21.3 |
30.9 |
|
Gas |
303 |
204 |
882 |
2,533 |
734.6 |
1144.6 |
187.1 |
|
Beverages |
1,028 |
851 |
962 |
1,177 |
14.5 |
38.4 |
22.4 |
|
Fish & seafood |
557 |
511 |
547 |
607 |
9.1 |
18.8 |
11.0 |
|
Power generating machinery |
230 |
174 |
423 |
592 |
157.2 |
241.5 |
40.0 |
|
General industrial machinery |
381 |
308 |
382 |
519 |
36.2 |
68.5 |
36.1 |
|
Chemical materials & products |
265 |
255 |
411 |
368 |
38.7 |
44.1 |
-10.5 |
|
Medicinal & pharmaceutical products |
213 |
294 |
266 |
274 |
28.4 |
-7.0 |
2.8 |
|
Electrical machinery & appliances |
282 |
265 |
226 |
266 |
-5.9 |
0.4 |
17.4 |
|
Organic chemicals |
149 |
150 |
125 |
214 |
43.4 |
42.9 |
70.9 |
Source: HMRC RTS, Q3 2022
Figure 6. Oil was the top good exported to the EU, accounting for 37% of Scotland’s goods exports to EU countries
Scotland’s top ten exported products to the EU, Q1 + Q2 + Q3 2022
Source: HMRC RTS, Q3 2022
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