Volume of Scottish exports falls following a slump in engineering sales, report reveals

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21st November 2016 13:14 - Engineering

Volume of Scottish exports falls following a slump in engineering sales, report reveals: According to official figures from the Scottish engineering and manufacturing sector, the export volumes within manufacturing has fallen by 0.8 per cent for the fifth consecutive quarter in the three months to June 2016.Volume of Scottish exports falls following a slump in engineering sales, report reveals

The report suggested that the slump in manufactured exports was impacted by a 6.1 per cent quarter-on-quarter fall in overseas sales volumes for the engineering sector in Scotland.

The figures illustrate the challenges the Scottish economy has been facing, even prior to the slowdown in overall growth for the United Kingdom in the third quarter of 2016, following the vote to leave the European Union.

In comparison with the 12 months to June 2016, Scottish manufacturing export volumes were down by 3.6 per cent.

According to the figures, Scottish mechanical engineering export volumes fell by 10.5 per cent quarter-on-quarter in the three months leading to June. Similarly, overseas sales by the electrical and instrument engineering sector plummeted by 6.7 per cent.

The transport equipment sub-sector was the only area which experienced an increase in export volumes, growing by 1.5 per cent.

Further to the slump seen in the engineering sector, Scotland’s textiles, clothing and leather sector also dell by 9.4 per cent quarter-on-quarter in the three months leading to June 2016. On the other hand, exports by the Scottish beverage industry grew by 2.2 per cent quarter-on-quarter, whereby the key to the growth was Scotch whisky. As well as this, food export volumes increased by 12.9 per cent.

A separate survey by the Bank of England agents has revealed that companies in the United Kingdom anticipated a broadly stable or slightly lower investment spending in the next 12 months, following a significant increase in investment in the last year.

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