New figures published by HMRC reveal that the value of goods exported by Scottish companies rose by 15 per cent in quarter one compared to the same period last year.
In total, Scotland's exports grew to £8.4bn in the first quarter, up from £7.3bn in the same period last year.
Scotland-based companies grew their exports across every global market with the exception of North America, where the value of exports dropped slightly by 5 per cent. This was offset by a rise in exports to Asia and Oceania (up 67 per cent), sub-Saharan Africa (up 11 per cent) and Latin America and the Caribbean (up 10 per cent).
The European Union continued to be the most import market for Scotland's exporters, accounting for 50 per cent of exports by value, followed by Asia and Oceania on 24 per cent and North America on 13 per cent.
Alison Henderson, CEO of DACC said “It’s good to see a rise in Scotland’s Exports, which we hope will be sustained over the rest of the year. We are working with Scottish Chambers of Commerce and Scottish Government on our International Trade services, working not only with local businesses, but looking at a national focus too. Our International Members Group continues to help us shape our services, and we have many events & activities planned to help businesses grow their international footprint. Please get in touch with our International Team on 01382 228545 if you have any questions.”
The most significant export growth was recorded by companies in the mineral fuels, beverages and tobacco, and chemicals sectors.
Commenting on the numbers, Alex Tait, regional managing partner for RSM in Scotland said:
'Exporters are facing an uncertain time at the moment, but it's good to see that the Scotland's businesses are cracking on and delivering some great results.
'It's particularly encouraging to see that food and drink exports from Scotland are up. New numbers released this week suggest that exports of salmon and whisky are doing particularly well in export markets.
'That said, these numbers might flatter slightly as overseas buyers may have brought forward orders because of Brexit uncertainty.
'Whatever happens with respect to Brexit, exporters will need to be agile and respond quickly to any changes in the international trading environment.
'Small and middle market businesses in Scotland need to keep their export strategies under constant review. No market is the same, so before embarking on any international expansion, research into the local market's changing political, tax and regulatory landscape is absolutely essential.'
