SCOTTISH manufactured exports dropped in the fourth quarter of last year, but were up modestly over 2014 as a whole, official figures have shown.
The seasonally-adjusted figures, published by the Scottish Government, show that the volume of manufactured exports in the final three months of last year was down by 0.8 per cent on the preceding quarter. This fall followed a one per cent quarter-on-quarter rise in Scottish manufactured exports during the three months to September last year.
Several key sectors recorded falls in their export volumes in the fourth quarter of 2014.
The drinks sector, which includes the key Scotch whisky industry and is a major source of exports for Scotland, recorded a two per cent quarter-on-quarter fall in overseas sales in the final three months of last year.
Figures published recently by the Scotch Whisky Association showed the overall value of Scotch exports over 2014 as a whole, at £3.95 billion, was down seven per cent on the previous year.
The Scottish Government figures show that exports by the mechanical engineering sector north of the Border dropped by three per cent during the fourth quarter of last year. And electrical and instrument engineering, the category in which the performance of the electronics industry is recorded, suffered a 6.1 per cent quarter-on-quarter drop in exports in the final three months of 2014.
Overseas sales by the refined petroleum, chemical and pharmaceutical products industries in Scotland fell by 1.4 per cent quarter-on-quarter in the final three months of last year.
Andy Hall, head of corporate banking for Barclays in Central Scotland, said of the latest official export statistics: "Following a rise in real terms during the third quarter of 2014, Q4 has seen performance dip.
"The latest figures reflect the challenging eurozone export market, with sterling continuing to outperform the euro and the impact of falling oil prices."
Sterling strength against the euro makes Scottish manufacturers relatively less competitive in markets in the single currency zone.
There were some bright spots in the fourth-quarter Scottish manufactured export figures.
Exports by the transport equipment manufacturing sector jumped by 8.5 per cent quarter-on-quarter during the final three months of 2014.
And overseas sales by the food industry rose by 2.8 per cent during the closing quarter of last year.
Comparing 2014 as a whole with the preceding 12 months, Scottish manufactured export volumes were up by one per cent.
Mr Hall, commenting on the full-year performance and looking ahead, said: "As a whole, 2014 saw some growth but, with severe weather conditions hitting the first quarter of 2015, Scottish manufacturers are now keen to see a brighter outlook for the rest of the year."
The Scottish Government figures show that exports by the drinks industry over 2014 as a whole were down by three per cent on the previous year.
Exports by firms in the electrical and instrument engineering category in 2014 were down by 4.9 per cent on the preceding 12 months.
Overseas sales by the Scottish mechanical engineering sector over 2014 as a whole were up by 3.4 per cent on 2013, in spite of the fourth-quarter setback.
And the Scottish transport equipment sector's exports during 2014 were up by 16.8 per cent on the prior year.
Exports of the refined petroleum, chemical and pharmaceutical products industries over 2014 were up by 0.2 per cent on the previous year.
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