SCOTTISH manufactured export volumes jumped by 3.6 per cent quarter-on-quarter in the three months to September last year, official figures reveal.
And manufactured exports in the year to September were, in volume terms, up 4.2 per cent on the preceding 12 months, the Scottish Government data show.
Excluding oil and gas, manufactured exports make up around half of the total value of exports from Scotland to the rest of the world.
Export volumes of Scotland’s food and drink sector, which includes the key Scotch whisky industry, rose by 15.2 per cent quarter-on-quarter in the three months to September. Comparing the year to September with the preceding 12 months, food and drink export volumes were up by 3.9 per cent.
Scotland’s engineering and allied industries achieved a 2.5 per cent quarter-on-quarter rise in export volumes in the three months to September. Comparing the four quarters ending September with the preceding 12 months, the engineering and allied industries’ export volumes were down by 0.2 per cent.
The refined petroleum, chemical and pharmaceuticals products sector’s export volumes were up by 3.8 per cent quarter-on-quarter in the three months to September. Comparing the year to September with the preceding 12 months, they were up by 11.7 per cent.
Andy Hall, head of corporate banking for Barclays in central Scotland, said: “Exporters have continued to capitalise on the weaker sterling which has helped maintain a competitive advantage in global markets.”
Sterling’s post-Brexit vote weakness has boosted the competitiveness of exporters in Scotland, and those elsewhere in the UK, in overseas markets.
But Mr Hall cited “challenging circumstances” for exporters as the UK Government’s Brexit negotiations continue.
He said: “With a stronger annual performance compared to the previous four quarters, optimism remains strong but, as Brexit trade negotiations continue to rumble on, manufacturers must continue to demonstrate underlying resilience despite the challenging circumstances.”
The manufactured export figures are contained in the latest quarterly national accounts, which also show the household savings ratio in Scotland was 7.9 per cent in the third quarter. The Scottish Government noted this compared with an average of 9.4 per cent during 2016.
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