The Courier & Advertiser (Fife Edition)
Boom time beckoning for Scottish exporters
THE VOLUME of Scottish exports rose by 3.5% during the second quarter of this year, new figures have shown.
The real terms increase, hailed by finance secretary John Swinney and Scottish Development International (SDI) yesterday, was unveiled following the publication of the Scottish Index of Manufactured Exports.
It marks the second quarter of consecutive growth on the bounce and comes in the same week as it was revealed the Scottish textile sector has already exceeded its 2020 growth targets, helped by “significant” gains in international trade.
A 50% increase in exports is anticipated by 2017, which will see Scotland’s textiles sector join big hitters in the food and drink, engineering, chemicals and pharmaceutical industries.
Mr Swinney said manufacturing exports were “continuing to thrive” at a difficult time in many markets.
“The challenging global economic conditions continue to make it a trying time for export industries, which is why the Scottish Government is working with Scottish Developmental International, Scottish Enterprise and Highlands and Islands Enterprise, to help companies expand and reach out to new markets,” he said.
“Last week’s GDP f igures show Scotland’s economy grew 0.6% from April to June 2013, the same as in the UK over the same period.
“Compared with the same quarter in 2012, the Scottish economy grew by 1.8% over the year, outperforming the UK, where the economy grew by 1.3%.
“By continuing to invest in and increase exports, we can help build sustainable economic growth for Scotland and highlight the country’s position as a place of international trade and investment.”
SDI international operations director Neil Francis said the figures reinforced “global demand for Scottish products”, particularly those in the engineering, textiles, chemical and pharmaceutical sectors.
“With economic recovery gaining momentum, we are seeing more and more Scottish companies look to new and emerging markets such as Asia, Middle East, Africa and South America, as well as sustaining growth in the more traditional economies,” he added.
“We continue to work hard with our partners to help support ambitious companies with global potential and we are encouraged by the positive outlook for Scotland’s manufactured exports.”
Meantime, the textile industry has almost doubled its 2020 turnover target, with a new revenue goal of up to £1.5 billion.
Scottish Enterprise head of textiles Cathy Black said the sector’s success was down to “ambitious and innovative” companies.
“In 2013 alone, we have supported more than 40 companies to participate in leading international events such as CHIC in China, Decorex in London and in November, six rail interior companies will visit Cologne to exhibit at the Railway Interior Expo,” she said.
Mr Swinney said the Scottish Government and its agencies were doing all they could to help the sector.