Scotland’s GDP grew 6.9% in 2021

Scotland’s Chief Statistician has released statistics showing Scotland’s gross domestic product (GDP) grew 6.9% in 2021 compared to 2020.

Equivalent UK growth over the year was 7.5%.

Scottish GDP grew 1.3% during the fourth quarter of 2021.

Over the year, compared to the fourth quarter of 2020, the Scottish economy grew 5.9%.

During the fourth quarter, output in the construction sector grew by 1.0%, output in production grew by 0.3%, and output in the services sector grew by 1.5%.

Finance Secretary Kate Forbes said: “Recording 1.3% growth during the fourth quarter of last year demonstrates the resilience of Scotland’s businesses and the wider economy.

“This is despite the emergence of the Omicron variant at the end of last year and necessary public health restrictions which impacted primarily on services.

“Over the year, compared to the fourth quarter of 2020, the economy has grown by 5.9%.

“We continue to face challenges, especially with the rising cost of living and the potential economic impact of Russia’s illegal invasion of Ukraine.

“The Scottish Government’s new National Strategy for Economic Transformation will be fundamental to building on progress made — by helping the economy become greener, fairer and more prosperous.

“Since the start of the pandemic, businesses have benefited from more than £4.5 billion of support.

“This includes Covid-19 non-domestic rates reliefs which have saved businesses around £1.6 billion in reduced rates bills since 1 April 2020.”

The second estimate of GDP for the fourth quarter of 2021 will be available in Quarterly National Accounts Scotland published on May 4, 2022.

The first quarterly estimate of GDP for the first quarter of 2022 will be published on June 15, 2022.

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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.