The art of making and moving – better known in the business as manufacturing and exporting – is essential to our economy. Think of it these twin activities as the knee bellows that can be twerked into action to ignite the financial fire . . . then given a wee bit more laldy for a good blast of what’s needed whenever the flames need fanned.
The end of 2014, however, saw knees stiffen and manufacturing and exports almost grow out of puff. Even after catching a second wind in a resurgent February, celebrations were tempered when UK-wide factory exports hit a two-year low and only managed to wheeze their way through March.
That said, early fears of a cataclysmic choke in manufacturing exports have now been eased after the release of the Global Connections Survey.
This suggests that in Scotland everything’s on track . . . but how are we to effect change? Elementary: with a cunningly simple plan to boost Scottish exports by 50% by 2017.
It’s ambitious, for sure; but The Global Connections Survey has revealed the exporting of goods and services in 2013 hit an all-time high in Scotland. That year saw £27.9 billion generated through exports, a 7.2% or £1.9 billion increase from 2012.
The survey also showed Scotland’s largest exporting sector over the year was the Scottish food and drink industry, generating £5bn for the economy.
Such is the Scottish Government’s desire to now expand further growth in this sector, they have established a new network of high-quality skills training opportunities – working with the country’s leading education establishments and vocational training. This is all through Abertay University’s Scottish Food and Drink Skills Academy.
The petrochemical and refining industries, meanwhile, were the next biggest exporters, generating £3.5bn for the economy. Holyrood’s high heidyins has urged those involved in the petrochemical and refining industries to continue to be ambitious and grow their businesses, but in an ecological way, one that meets the requirements of Scotland’s ambitions to become more environmentally friendly.
Instead of limiting the capabilities of this sector, new creative and greener production methods could, in fact, establish Scotland as an industry leader in eco-friendly petrochemical production.
Machinery and equipment (£1.7bn) and electronics (£1.6bn) also plays a big part; success in these sectors show that investment is reaping rewards. Scotland is a key European exporter of laptops and electrical equipment, and continued investment will allow for Scotland’s electronic and machinery exporting to grow.
Over the past three years, exports in Scotland have increased by a fifth. This pattern of steady growth comes after the launch of the Scotland’s International trade and investment strategy in 2010.
The Government is growing exports – even if the most recent coughs and splutters in exportation on a monthly basis do not suggest so. Focus on specialist products and maximising the potential in key gaps in the market are allowing Scotland to create and benefit from a string headwind in some key areas of exportation.