Ernst & Young Study Projects Scotland to be Better than UK in Goods Exports till 2017
After noticing a major hike in the overseas sales of chemicals, engineering and aerospace sectors belonging to Scotland, in a recent study it has been estimated that the country will benefit from considerably stronger growth in comparison to that of the UK as a whole. In the five years to 2017, Scotland will enjoy huge profits in the fields of goods exports.
In specific terms, according to the UK Goods Export Monitor report that has been created by accountancy firm Ernst & Young and published today, on overall basis, when Scotland had an export revenue of £18.2 billion in 2012, it will enjoy the same up to an extent of £20.1bn in 2017.
The report also indicates that with this rise, the compounded annual growth rate of Scotland for next five years to 2017 will reach a level of 2%, which is well ahead of a corresponding CAGR of 0.3% for the UK.
In comparison to the European nations, if we analyze the annual growth in goods export; then Scotland succeeds by an average ratio of 1%.
However, the findings of the Ernst & Young report have been welcomed by Scottish Finance Secretary John Swinney. He is glad to know that when it comes to growth in goods exports Scotland would do better than the UK as a whole.
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