Swinney comments on Manufactured Exports

The Scottish Index of Manufactured Exports which is published today, shows that export sales grew at 1.7 per cent in real terms over the year to July, despite experiencing a fall during the first six months of 2012.

The latest figures for Q2 2012 show a fall of 4.0 per cent in real terms over the quarter.

Commenting on the figures Finance Secretary John Swinney said:

“Manufactured exports from Scotland have grown over the year by 1.7 per cent and we have seen annual growth in industry sectors such as Food and Drink, Chemical and Petroleum Products and Textiles.

“However, this is offset by an overall quarterly fall in exports. This should be seen in the light of global economic conditions. During quarter two there was heightened uncertainty in some of our key export markets such as the EU as well as slowed growth in the US and Asia.

“These figures underline why it is important for us to continue to develop trade links with emerging economies if we are to meet our ambitious target to increase the value of Scottish exports by 50 per cent by 2017. We are working with our enterprise agencies to ensure that Scotland is on the front foot when it comes to forging overseas links and this will open new markets for the future.

“We are also assisting the ambitious Scottish companies who want to take their products abroad so that when the global economy recovers we are ready to take full advantage of the opportunities on offer.”

Linda Hanna, director of Company Growth at Scottish Enterprise said:

“These latest figures show why it’s critical that we continue to work with Scottish companies to help them access new overseas markets. In the current economic climate, export sales offer a significant opportunity for our companies to fuel their growth.

“Next month, we have four trade missions arranged to enable Scottish companies to explore Japan, China, Africa and France. From experience, these trade missions help our companies build strong relationships and allow export ambitions to become a reality.”