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Scotland 'punching below weight' in Asian exports
SCOTLAND and the UK as a whole are lagging behind in the fast-growing Chinese and Asian export markets, a report today warned.
Publishing its summer forecast report, Ernst & Young's Item Club noted that Britain was a big exporter of financial services, which China does not yet import to any great extent.
However, nearly two-thirds of UK exports still come from the manufacturing sector and the report claimed "we continue to punch below our weight".
By comparison, French exports to the People's Republic of China in the first-half of 2006 were up by 60 per cent.
Dougie Adams, economic adviser to the Scottish Item Club, said: "China did not make it into Scotland's top 20 export markets in the latest data for 2004 - implying that our Chinese exports were worth less than $300 million [162m] in that year."
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Thursday 24 May 2012
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