This item was published during the term of a previous administration that ended in April 2007
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'Performance reflects global downturn'
09/07/2003
Scotland's manufacturing export performance over 2002
largely reflects the global economic downturn, but the
country is well placed to move forward when demand
recovers, Deputy Enterprise Minister Lewis Macdonald said
today as the
Scottish Manufactured Exports 2003 (Quarter 1) figures
were published today.
He said:
"These figures confirm the real difficulties faced by
all manufacturing -and especially exporters - over 2002 and
I recognise that things remain difficult for many
businesses.
"The poor export performance over 2002 very much
reflects the subdued growth in the major global economies
over that time.
"The data for the most recent quarter, although still
showing a decline in real terms, suggest that we may now be
past the worst. Recent evidence from Business Surveys, and
the Fraser of Allander Institute's report published today,
also seem to suggest that confidence is picking up.
"As a small and open economy, Scotland's economic well
being is inextricably linked to global economic
circumstances and there are no quick fixes for economic
growth. Our job is to ensure that we have the conditions to
maximise sustainable economic growth in the medium and long
term.
Smart, Successful Scotland, our Enterprise
Strategy, is crucial to this.
"We are now focussed on delivering the strategy, along
with a host of other measures that will all contribute to
our future prosperity and will help businesses both now and
in the future. This means, for example, investment of £450m
over 10 years to three Intermediate Technology Institutes,
our commitment for spending on transport in Scotland to
reach £1billion per year by 2006, and the freezing of
business rates.
"This action on the ground, allied to the low inflation
and low interest rates that Scotland continues to benefit
from, mean that Scotland is well placed to move forward
when global demand recovers."
Scottish Manufactured Exports 2003 Quarter 1 shows that manufactured export sales increased by 2.4
per cent in cash terms but decreased by 3.4 per cent in
real terms, compared with the previous quarter. This was
the first increase in cash terms since 2001 Q1, and the
smallest decrease in real terms since 2001 Q3.
Over the year to 2003 Q1, manufactured export sales
decreased by 20.9 per cent in cash terms and by 24 per cent
in real terms.