Figures released recently by HMRC show that Scotland is outperforming the rest of the United Kingdom when it comes to imports and exports.
In the year to the end of September 2018 Scotland exported £29.6 Billion worth of goods to countries abroad compared to £27.9 Billion in the previous year, a rise of 6.1%.
In contrast the UK as a whole showed only a 4% increase from £322.8 Billion to £335.6 Billion.
Scotland’s increase is almost double that of England’s which only rose 3.1% from £240.2 Billion to £247.6 Billion.
Of Scotland’s total exports £15.7 Billion were to the European Union (an increase of 18% from the previous year’s figure of £13.3 Billion), that’s 53% so more goods were exported to the EU than the rest of the world combined. The UK as a whole’s exports to the EU were 49.9% and England’s were just 49.2%.
Asia & Oceania were the next largest customer of Scottish goods accounting for 16.9%, followed by North America on 14.9%
Scottish exports of Mineral Fuels which include Oil and Gas were up 13% from £8.5 Billion to £9.6 Billion worldwide.
Turning now to imports, again for the year to September 2018, Scotland imported £25.4 Billion worth of goods an increase of 10.4% on the previous year’s figure of £23 Billion.
For Comparison the UK as a whole showed only a 2.5% increase from £462.5 Billion to £473.9 Billion. England showed an even smaller rise of only 1.8% from £370 Billion to £376.8 Billion.
Rather interestingly you’ll notice from the figures above that the UK as a whole imported 41.2% more goods than it exported, similarly England imported 52.2% more goods than it exported. Compare those figures to Scotland who actually exported 16.5% more goods than it imported.
In monetary terms it means the UK as a whole spent £138.3 Billion more on imports than it earned from exports, the same scenario applies to England which spent £129.2 Billion more on imports than it received from exports. In contrast Scotland earned £4.2 Billion more from exports than it spent on imports.
In fact since 2015 the UK as a whole shows an International trade deficit of £496.7 Billion of which England accounts for £464.2 Billion. While for the same period Scotland has an International trade surplus of £15 Billion.
These figures should put paid to claims by Unionists that Scotland would be too poor as an Independent Country and also show how important the Single Market and Customs Union is to Scotland.
Source: All data obtained from the Regional Trade Statistics published by HMRC on December 6th 2018