Scots GDP £211bn or £38,509 per person in 2022

Scotland’s GDP in 2022 including oil and gas extraction in Scottish waters is estimated to have been £210.7 billion in total or £38,509 per person, according to the GDP Quarterly National Accounts, Scotland, publication.

“As well as the sharp rise in the nominal value of onshore GDP during 2022, the gross value added from oil and gas extraction in Scottish adjacent waters also increased strongly due to high oil prices and increased profitability during the year,” said the publication.

Scotland’s onshore GDP in 2022 is estimated to have been £187.3 billion in total, or £34,229 per person.

“This has increased by £18.5 billion, or 11.0% compared to 2021 due to a combination of real terms growth of 4.9% and an increase in the GDP deflator by 5.8%, which reflects the high levels of price inflation experienced during 2022,” said the publication.

The report said the coronavirus pandemic led to a number of challenges in collecting and processing the data to calculate GDP.

“As a result, estimates for 2020 and 2021, in particular, are subject to more uncertainty than usual and may be more prone to revision over time,” said the report.

“International comparisons, and comparisons within the UK, should be made with appropriate caution for the levels of uncertainty and variations in methods in use by different statistical institutes around the world.”