Scots GDP £179.5bn or £32.9k per head; UK at £31.9k

Scotland’s 2018 GDP, including oil and gas extraction in Scottish waters, has been estimated at £179.5 billion or around £32,900 per person — compared to GDP per head for the UK as a whole of around £31,900.

That’s according to the latest GDP Quarterly National Accounts, Scotland.

The report said: “In 2018, the latest estimate of the annual value of Scotland’s onshore GDP in current prices (i.e. not adjusted for inflation) is estimated at £163.3 billion, or around £29,900 per person.

“Including oil and gas extraction in Scottish waters, Scotland’s GDP is estimated at £179.5 billion, or around £32,900 per person.

“GDP per head for the UK as a whole was around £31,900.”

The report added: “Scotland’s GDP grew by 0.6% in real terms during the first quarter of 2019 compared to the previous quarter, revised up from the first estimate of 0.5%.

“The equivalent growth rate for the UK as a whole was 0.5%.

“Compared to the same quarter last year, Scotland’s GDP has grown by 1.5%, revised up from the first estimate of 1.4%.

“Equivalent UK growth over the year was 1.8%.

“In 2018, the latest estimate of Scotland’s annual GDP growth is 1.4% compared to 2017. Equivalent annual UK growth was 1.4%.

“As reported in the first estimate, the largest single contribution to growth this quarter was the manufacturing sector (+2.3%), with particularly strong performances in the Pharmaceuticals and Drink industries.

“This strength is also seen in the estimates for manufactured exports to the rest of the world, which increased by a total of 1.4% in the latest quarter.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.