WIREDGOV

Scotland’s onshore GDP is now estimated to have grown by 1.6% during 2021 Quarter 4 (October to December), according to updated statistics announced today by the Chief Statistician. The growth rate in the latest quarter has been revised up from the previous estimate of 1.3% published in March.

In quarterly terms, the level of GDP is unrevised at 1.1% below the level in 2019 Quarter 4, prior to the direct impacts of the coronavirus pandemic.

The GDP Quarterly National Accounts publication includes an updated estimate of growth for the October to December period. This uses additional data which has been released since the Quarterly GDP First Estimate was published in March, along with updates to annual weights and levels back to 1998. The Quarterly National Accounts also includes a range of other statistics which are used for economic analysis, forecasting and modelling.

Background

The full statistical publication and data are available on the Scottish Government website.

The Scottish Government has developed faster economic statistics which help to track the impact of the COVID-19 pandemic on the economy. Experimental monthly GDP estimates up to February 2022 are available on the Scottish Government website.

Change in gross domestic product (GDP) is the main indicator of economic growth. All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). GDP growth in this publication relates to Scotland’s onshore economy, which means it does not include the output of offshore oil and gas extraction. Estimates of the cash value of Scotland’s GDP are available excluding and including oil and gas extraction.

Further information on GDP statistics.

These estimates are compiled in line with the Code of Practice for Statistics.