Oil and gas fastest growing sector amongst Scottish exports

Oil and gas fastest growing sector amongst Scottish exports

Exports in Scotland rose by almost a fifth to £28.8 billion in 2017, with oil and gas the fastest rising sector, according to new figures.

While Scottish exports rose by 19% in 2017, from the previous year, the UK as a whole only saw an average of 13% growth in exports, which economic secretary Keith Brown put down to a return in confidence in the oil and gas industry.

The 24% rise in Scottish exports to the EU help drive this growth, outstripping the rise of non-EU countries by 9%.

Petroleum and other related products had the largest increase in exports, up by 46%, worth £2.695 billion.

Brown said: “I’m sure many people in Scotland will be encouraged, as I was, by today’s statistics, which clearly show that Scotland’s exports industry is showing strong growth in spite of the looming shadow of Brexit”.

“These figures are positive – across a number of sectors and across a number of global markets.”

He said: “There was also welcome news for oil and gas, with the increase in exports clearly demonstrating that confidence is returning to that sector – which is, of course, one of Scotland’s most important industries.”

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