Лекция: Major trading partners.

Excluding intra UK trade, the European Union and the United States constitute the largest markets for Scotland's exports. As part of the United Kingdom and the European Union, Scotland fully participates in the single market and free trade area which exists across all EU member states and regions. Recently, with the high rates of growth in many emerging economies of southeast Asia such as China, Thailand and Singapore, there has been a drive towards marketing Scottish products and manufactured goods in these countries, with Singapore entering the top ten destinations for Scottish exports in 2004.

The total value of international exports from Scotland in 2011 (excluding oil and gas) was estimated at £23.9billion, of which £14.7billion was from the manufacturing sector and £7.7billion from the services sector. The top five exporting industries in 2011 were food & beverages (£4.2billion), manufacture of coke, refined petroleum and chemical products (£3.7billion), manufacture of computer, electronic and optical products (£1.4billion), financial and insurance activities (£1.4billion) and manufacture of machinery and equipment NEC (£1.4billion). The total value of exports from Scotland to the rest of UK in 2011 (excluding oil and gas) was estimated at £45.5billion, of which £24.5billion was from the services sector and £11.6billion from the manufacturing sector.

5. Services.

Edinburgh is Europe's 14th largest financial centre, with influential financial players such as The Royal Bank of Scotland, the Bank of Scotland, Scottish Widows and Standard Life all having a presence in the city. Centred primarily on the cities of Edinburgh and Glasgow, the financial services industry in the Scottish Economy expanded greatly in recent years, with a growth rate of over 35% over the period 2000 to 2005. The financial services sector employs around 95,000 people and generates £7bn or 7% of Scotland's GDP.

5.1 Banking.

Banking in Scotland has a long history, beginning with the creation of the Bank of Scotland, in Edinburgh, in 1695 and expanding greatly to support the trading developments of the 18th and 19th centuries. Retail banking services to ordinary people followed in the 19th century, on the trustee savings bank model pioneered by Rev. Henry Duncan.

Today Scotland is home to 4 clearing banks — the Bank of Scotland, The Royal Bank of Scotland, the Clydesdale Bank and TSB Bank. The Royal Bank of Scotland expanded internationally to the second largest bank in Europe, fourth largest in the world by market capitalisation in 2008, but collapsed in the 2008 financial crisis and had to be bailed out by the UK Government at a cost of 76bn pounds;[52] its new global headquarters in Edinburgh augmented the city's position as a major financial centre. Prior to the 2008 financial crisis Scotland ranked second only to London in the European league of headquarters locations of the 30 largest banks in Europe as measured by market value.

Although the Bank of England remains the central bank for the UK Government, three Scottish clearing banks still issue their own banknotes: (the Bank of Scotland, The Royal Bank of Scotland and the Clydesdale Bank). These notes have no status as legal tender; but in practice they are accepted throughout the UK.The full range of Scottish bank notes commonly accepted are £5, £10, £20, £50 and £100. (See British banknotes for further discussion).