Latest GDP figures
The most recent Scottish GDP publication (2016 Q3) is available here.
What is GDP?
Gross domestic product (GDP) is a measure of economic activity which captures the value of goods and services produced during a given period. Change in GDP is the main indicator of economic growth in Scotland. When external commentators describe the growth or decline of the economy, it is the change in GDP to which they refer.
Growth in Scotland's Gross Domestic Product is measured using the output approach. This is estimated by measuring the output of each industry in Scotland and combining them together to form an estimate for the whole economy.
What GDP statistics are available for Scotland?
Scotland's Gross Domestic Product is published quarterly (every three months) and reports the percentage change in the economy. It reports 'real terms' GDP growth for the Scottish economy and industries within it. 'Real terms' means that the figures take into account the effect of inflation and allow for meaningful comparisons over time. Estimates are also seasonally adjusted, with the effect of price changes removed.
In addition, estimates of the cash value of GDP are published in Quarterly National Accounts Scotland, which is released around 4 weeks after the initial GDP growth publication. Quarterly National Accounts also includes breakdowns of GDP calculated using the income and expenditure approaches, as well as output, along with other economic indicators.
Scottish and UK National Accounts are in line with the European System of Accounts (ESA) 2010. Comparable statistics for the UK included in the GDP release are produced by ONS. UK figures are taken from the latest ONS Quarterly National Accounts release.