By Andrew Skinner
The most recent Scottish Government figures for trade (Export Statistics Scotland) showed just how valuable the UK’s internal single market is for Scotland.
Last published in October 2021, these figures show that Scotland’s trade is as follows:
With the rest of the UK: 60% (£52 billion)
With the European Union: 21% (£16.4 billion)
With the rest of the world: 19% (£18.7 billion)
These figures clearly show the vital importance of Scotland remaining part of the UK.
The data reveals that trade with the rest of the UK is over three times more valuable for Scotland’s economy than trade with all the EU member states combined.
Yet it is this UK single market, our biggest market by far, that the SNP want to break-up entirely. Risking new trade barriers, a hard border, and new tariffs with 60% of our exports.
If Scotland were to become independent, there would be a new international border cutting across the UK (and our internal market). This would increase trade costs between Scotland and the rest of the UK.
We are expecting a new release of Scotland’s export figures this week, on Wednesday 29th November.
The delay in subsequent publications was in part due to the Covid-19 pandemic, as it relies on external data.