One in four Scottish jobs based on trade with rest of the UK, according to Fraser of Allander Institute
Economic researchers found 530,000 jobs are supported by trade with the rest of the UK
Jobs - Image credit: Fotalia
Nearly one in four Scottish jobs relies on trade with the rest of the UK, according to new research from the Fraser of Allander Institute at the University of Strathclyde.
The economic research institute found that 530,000 Scottish jobs are supported by trade in goods and services with the rest of the UK compared with 175,000 with the rest of the world and 125,000 with the EU.
Scotland currently sells £49.8bn of goods and services to the rest of the UK and £12.3bn to the EU.
Around two thirds of Scottish jobs supported by exports to the rest of the UK are in the services sector and just under one third in manufacturing and construction.
Commenting on the report, Secretary of State for Scotland David Mundell said: “More than half a million Scottish jobs depend on being able to trade freely within the UK.
“These figures demonstrate clearly the value of the UK market to Scottish businesses – which is worth four times that of the EU market.
“As we leave the EU, it is vital we maintain the integrity of the UK market and prevent any new barriers to doing business across the UK.
“We have seen recent worrying figures showing the Scottish economy contracting, compared to the UK economy growing overall.
“So, at this time, it is more important than ever that Scotland’s two governments work together for the benefit of people in Scotland.
“That is what people in Scotland expect, and to what I am committed.”
Economy Secretary Keith Brown suggested the report only paintedpart of the picture.
He said: “These findings ignore the fact that trade is two way.
“Our own analysis shows exports to Scotland from the rest of the UK support over half a million jobs in the UK.
“Analysis also shows Scotland is the rest of the UK’s second largest export market, behind only the US, with exports worth over £50 billion.
“It is quite simply nonsense to suggest that the rest of the UK would cease trading with Scottish firms if we were inside the single market but outside the UK.
“As we have consistently made clear, Scotland does not face a choice between exporting to the EU or the UK - we can, and should, do both.
“This is why we will continue to pursue a way forward which retains our place in Europe’s single market which is vital to protect economic stability, jobs and inward investment.”
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