Does first increase since early 2008 reflect improved conditions in global economy?
Commenting on the figures, published by Scotland's Chief Statistician, Enterprise Minister Jim Mather said: "This small increase in Scotland's manufactured exports - the first since the first quarter of 2008 - is a welcome sign of improving conditions in the global economy and encouraging news for the Scottish business community. However, the 12.1 per cent decline in exports over the year to Q3 2009 underlines the scale of the challenge ahead as we continue our work to position Scotland's economy for recovery.
"There can be no complacency. The Scottish Government is always looking to build on our economic recovery plan, which is supporting 15,000 Scottish jobs and providing real and practical help to business, including the manufacturing sector.
"The expansion of the Scottish Manufacturing Advisory Service (SMAS) has doubled the number of companies this vital service can reach, helping our exporters remain strongly competitive across the world. And we recently announced a 3.4 million pounds package of European funding for a joint initiative between Edinburgh Business Development and Scottish Chambers International in conjunction with Scottish Development International. This project, the Intelligent Exporter, will provide new support for Scottish companies seeking to trade globally and open up new markets."
Data from the OECD highlights that many advanced economies experienced export growth in Q3 2009: Germany 3.9 per cent; the UK 0.2 per cent; and Japan 13.9 per cent compared to the previous quarter. However, Germany and Japan both experienced more significant falls in exports over the year to Q3 2009: 17.1 per cent and 24.9 per cent respectively, compared to a 15.4 per cent fall for the UK. This data is from the OECD and is not directly comparable with the Scottish manufactured export sales series.
Also published is Scotland's Global Connections Survey for 2008 which highlights the value and destination of Scottish exports. Overall, Scottish exports, excluding oil and gas, were estimated at 20.7 billion pounds - an increase in overall exports of 1.7 billion pounds. The increase was due to a rise in manufacturing sector exports of 935 million pounds and a rise in service sector exports of 715 million pounds.
Background
The Scottish Index of Manufactured Exports, Quarter 3, 2009, can be viewed here.
Scotland's Global Connections Survey 2008 can be viewed here.