Scots economy grows at four times pace of UK


Scottish economic growth was four times that of the UK as a whole in the first quarter of 2023, according to figures from the Office for National Statistics.

The figures show Scotland’s show gross domestic product (GDP) in the opening three months of this year was up by 0.4 % on the fourth quarter of 2022, while UK GDP grew by 0.1% quarter-on-quarter.

Over the year, compared to the first quarter of 2022, the Scottish economy grew by 0.3%. Over the same period, the UK as a whole grew by 0.2%.

During the first quarter in Scotland, output in the construction sector grew by 0.7%, output in production grew by 0.8%, and output in the services sector grew by 0.2%.

The ONS figures for Scotland do not include the output of offshore oil and gas extraction.

“As noted in the Scottish Government’s Monthly Economic Brief for April 2023, the start of 2023 has seen a slight improvement in economic activity and optimism compared to the second half of 2022 during which economic output remained broadly flat and inflation rose to its highest rate since 1981,” said the Scottish Government.

“However, economic conditions are extremely challenging and the outlook for the year ahead remains subdued.”

Wellbeing Economy Secretary Neil Gray said: “These figures demonstrate the resilience of the Scottish economy against the extremely challenging circumstances faced by countries around the world.

“We are doing everything possible with the powers currently available to us to support the people of Scotland and deliver an economy that is fair, green and growing.”