Trade Balance between Scotland and the rUK

2015 total:  Exports to rUK £45.884 bn, Imports from rUK £51.255 bn. (-£5.371 bn).
2016 Q1:    Exports to rUK £11.355 bn, Imports from rUK £12.787 bn. (-£1.432 bn).

Figure in brackets represents balance of trade, a negative figure indicates that Scotland imports more from the rUK than it exports to it. By the same token, when Scotland becomes Independent the UK’s balance of trade worsens by £5.3 billion – a fact not missed by the financial and currency markets.

Source: http://www.gov.scot/Resource/0050/00504651.pdf  (Table G Contd – page 15)

Opinion: Scotland represents around 16% of rUK exports.

This is a difficult one to pin down exactly as statistics are given for exports outside the UK, and different statistics elsewhere from one part to another, but the 16% is a rough guide. Total rUK exports outside the UK were for the year ending June 2016 £256.5 bn (UK minus Scotland). iScotland would then be a full export for the rUK taking the total rUK export figure to £307.8 bn, and the iScotland percentage of that as 16.6%.

Note: United Kingdom total figures include trade that cannot be allocated to a region.

https://www.uktradeinfo.com/Statistics/RTS/Pages/default.aspx

Note that the graphic on the right hand side of the page is import / export to and from the UK, not within the UK. Those figures for Scotland though are substantially different from the ScotGov figures in the Table G above. This article does not attempt to examine why.


Opinion: The Balance of Trade figures also show just how one-sided the “Best of Both Worlds” poster from the UK Government was in 2014 about Scotland during our first Independence Referendum, in which they failed to mention how much the rest of the UK exports TO us.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/80797/Scotland_analysis_Final_11.2.pdf

Note at the bottom right: “A separate Scotland would have to negotiate its way back into Europe”. Promises made, and promises broken, now we’re being dragged out of the EU.


 

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