The report estimates a potential increase in trade of between £3.4 billion and £10.3bn over two years. From 2016 to 2022, between 2% and 9% fewer women-owned small and medium-sized companies sold overseas compared to those run by men.

Actions to be introduced include targeting more women to take part in trade missions and export training programmes.

Business Minister Richard Lochhead launched the report and the Scottish Government’s response during a visit to Raven Botanicals near Haddington, East Lothian, run by Arabella and Charlotte Harvey. The sisters are speaking to a potential overseas client about their award-winning natural skincare and beauty products after participating in trade missions to the United States and Dubai.

Mr Lochhead said: “The untapped export potential of women entrepreneurs identified by this report is astonishing. The measures I am announcing today are just the beginning.

“We will work with organisations such as Scottish Development International and the Scottish Chamber of Commerce to understand the specific export needs of women-led businesses and provide further assistance.

“The gender export gap is a worldwide phenomenon and the position in Scotland is typical of comparable countries. However, we are determined to improve and reap the huge economic rewards.”

Arabella Harvey said: “As a business in the early stages of growth, we welcome the commitment to meaningful, tailored support for female entrepreneurs.

“We have faced challenges accessing export support, even though there’s clear interest from new markets. By empowering female entrepreneurs to step confidently into the global marketplace, we can secure significant economic growth and strengthen Scotland’s reputation on the world stage.”