Scotland’s exports increase more than those of rUK in 2017 and we remain the only part of the UK with a significant trade surplus which would require no debt

December 8, 2017

By John Robertson - Scotland

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The above graph shows, to the end of September 2017, the trade deficits of every other part of the UK and Scotland’s now long-standing surplus.  Further, Scotland’s exports increased to the end of June, by 20%, while those of England increased by only 14%, suggesting the gap in the overall economic performance of the two countries is widening.

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At the same time, the UK’s overall trade deficit widened to £8.9 billion reflecting increased imports. You can see from the above graph that this deficit is long-standing

https://www.gov.uk/government/statistics/uk-overseas-trade-in-goods-statistics-october-2017

https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/june2017

 

 

You’ll see from previous reports detail of the nature of Scotland’s booming export industries and the role the Scottish Government has played in supporting this trend:

Scottish food and drink exports still booming so is it still only 28% of the UK’s food and drink exports? We’re still only 8% of the population

13% increase in Salmon farming jobs as Scottish salmon sales help UK exports hit record high

After 45% increase in Whisky exports to China, they cut the tariffs by 10%. Eh?

26% increase in Scottish pharmaceuticals exports in just five years.

Scottish Government grants to further boost Scotland’s food and drink industry which already produces 28% of all UK exports

The unavoidable conclusion is that Scotland continues to be saddled with debt she has not incurred yet which is used in the GERS figures to suggest falsely that Scotland’s economy is weaker than it really is.

Footnote: N Ireland has (small) trade surplus for the first time in years.

You can read more from  John Robertson at https://thoughtcontrolscotland.com/

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