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Scottish manufactured exports down 0.4% in Q3

Scottish manufactured exports down 0.4% in Q3

EDINBURGH: Scottish manufactured export volumes dipped 0.4 per cent “in real terms” during the third quarter of 2015, new official figures show.

The latest Index of Manufactured Exports for Scotland report, covering Q3 – July to September – of 2015, suggest the volume of manufactured exports returned to negative territory after three consecutive quarters of growth.

The figures, compiled by Scotland’s chief statistician, suggest the last time a quarter-on-quarter decline in manufactured export volumes was recorded was in Q3 of 2014.

However, on a rolling basis – comparing the last four quarters against the previous four quarters – the volume of manufactured exports to overseas markets grew 2.4 per cent, the report suggests.

Sectors contributing to the quarterly growth contraction were Metals & Metal Products (-15.7 per cent, Non-Metallic Products (13.6 per cent) and Other Manufacturing & Repair (-13.6 per cent).

Food & Drink exports grew 3.6 per cent in Q3, driven by a 17.3 per cent increase in food exports, though drink exports recorded no growth.

Annual rolling growth was up for Food & Drink (+2.6 per cent); Refined Petroleum, Chemical & Pharmaceutical Products (+10.8 percent); Textiles, Clothing & Leather (+1.8 per cent); Engineering & Allied Industries (+1.7 per cent); and Metals & Fabricated Metal Products (+4.6 per cent).

However, sectors recoding an annual fall in the rolling rate were Wood, Paper & Printing (-4.7 per cent); Non-Metallic Products and Other Manufacturing & Repair (-1.8%).

Commenting on the figures, Deputy First Minister John Swinney said: “Today’s figures continue the recent trend of export growth, which is consistent with the wider picture that has materialised for the Scottish manufacturing sector from the recent Q3 2015 GDP figures and business surveys over this period.