BREXIT puts almost £12 billion a year worth of Scotland’s exports to Europe at risk, a new report has warned. A briefing by Holyrood researchers highlights the significance of access to the single market.
The briefing by the Scottish Parliament’s Information Centre (Spice) was published last month, ahead of a meeting by Holyrood’s European and external relations committee, which has set up an inquiry into the implications to Scotland of Brexit.
“Scottish exports to the EU were worth £11.56 billion in 2014,” the report said. “They have grown by six per cent (£670 million) since 2002 and by 36 per cent (£3,070 million) since their lowest point in 2005.”
The three biggest recipients of Scottish exports in 2014 were the Netherlands, France and Germany, together accounting for just under half of Scottish exports to the EU. Food and drink and services made up the bulk of exports.
Editor’s note: strictly speaking the term ‘exports’ is incorrect in referring to intra-Europe trade within the Customs Union of the EU. The European Commission uses the terms ‘supplies’ (exports) and ‘acquisitions’ (imports).