[10] This left a legacy in the diversity of goods and services which Scotland produces, from textiles, whisky and shortbread to jet engines, buses, computer software, ships, avionics and microelectronics, as well as banking, insurance, investment management and other related financial services. The other GDP Quarterly National Accounts tables will be updated to … These notes have no status as legal tender (neither have Bank of England banknotes in Scotland); but in practice they are accepted throughout Scotland and by some retailers in the rest of the UK. The densest network of roads and railways is concentrated in the Central Lowlands of the country where around 70% of the population live. In 2006, Scotland produced 28% of Europe's PCs; more than seven per cent of the world's PCs; and 29% of Europe's notebooks.[63]. [48], By 2020, Edinburgh was ranked 17th in the world for its financial services sector, and 6th in Western Europe, according to the Global Financial Services Centres Index. Scotland has a large abundance of natural resources from fertile land suitable for agriculture, to oil and gas. This was abolished in 2020 and non-domestic rates are now entirely controlled by councils. There has been a large scale decrease in employment in the fishing industry within Scotland, due initially to the sacrifice of national fishing rights to the EEC on the UK's accession to the Common Market in the 1970s, and latterly to the historically low abundances of commercially valuable fish in the North Sea and parts of the North Atlantic. [100] Scotland's more generous social care provision results in Scotland's per capita spending being 43% higher per capita than England.[101]. After the Industrial Revolution in Scotland, the Scottish economy concentrated on heavy industry, dominated by the shipbuilding, coal mining and steel industries. This was a slowing in the UK growth rate following a relatively strong Quarter 3 (July to Sept). Scotland’s research and development spend in the higher education sector, as a percentage of GDP, is the 5th highest in the developed world. employed over 41,000 people. Fish and shellfish such as herring, crab, lobster, haddock and cod are landed at ports such as Peterhead, the biggest white fish port in Europe, Fraserburgh, the biggest shellfish port in Europe, Stornoway, Lerwick and Oban. The currency of Scotland is the Pound sterling, which is also the world's fourth-largest reserve currency after the US dollar, the euro and Japanese yen. Aberdeen is the centre of North Sea offshore oil and gas production, with giants such as Shell and BP housing their European exploration and production HQs in the city. 343,535 were small and medium-sized enterprises (SMEs) providing 1.2 million jobs. Scotland's primary public broadcaster is BBC Scotland and operates a substantial number of television channels, including satellite channels, and numerous radio stations. Water for residential properties is not metered in Scotland. Scotland's GERD in 2018 represented 1.65% of Gross Domestic Product (GDP), just below that of the UK (1.71%), the EU (2.03%) and OECD (2.38%). We use cookies to give you the best experience when you browse our website. Exclusive. [20] Eventually, the Union gave Scotland access to England's global marketplace, triggering an economic and cultural boom . What is particularly interesting are the industry-by-industry results for the production sector. Industry, which accounts for 46% of GDP and about 80% of exports, has replaced agriculture as the country's leading sector. 1. Other important industries include textile production, chemicals, distilling, agriculture, brewing and fishing. [11][12][13][14][15][16] The Bank of England is Scotland's central bank and its Monetary Policy Committee is responsible for setting interest rates. In tandem with the decline of sea-fishing, commercial fish farms, especially in salmon, have increased in prominence in the rivers and lochs of the north and west of Scotland. Growth sector statistics. Published October 2019. [29] The shipbuilding industry on the River Clyde increased greatly from the 1840s and by 1870 the Clyde was producing more than half of Britain's tonnage of shipping. Scotland still conducts the majority of its trade within the UK: in 2017, Scotland's exports totalled £81.4 billion, of which £48.9 billion (60%) was with constituent nations of the UK, £14.9 billion with the rest of the European Union (EU), and £17.6 billion with other parts of the world. Introduction. Many island communities on Scotland's western seaboard are served by lifeline ferry services operated by the state-owned company Caledonian MacBrayne, which carry tourists as well as freight and are vital to the economies of these islands. Public education in Scotland is more standardised than in England - Scotland has no equivalents of publicly funded grammar schools, free schools, nor academies except for Jordanhill School which is maintained by the Scottish Government through direct Grant-in-Aid. Next planned releases. About 13,340 km² of land (about 15% of the total) is forested. [42], In modern times, knitwear and tweed are seen as traditional cottage industries but names like Pringle have given Scottish knitwear and apparel a presence on the international market. All rights reserved. [28], Scotland's heavy industry began to develop in the second half of the 18th century. Several universities are playing an important role by producing research in Computing Science, including the University of Edinburgh's School of Informatics. Plans have been published by the major airport operator BAA plc to facilitate the expansion of capacity at the major international airports of Aberdeen, Edinburgh and Glasgow, including new terminals and runways to cope with a large forecast rise in passenger use. In Scotland, GDP per capita varies from €16,200 in North & East Ayrshire to €50,400 in Edinburgh city. Sheep-raising is important in the less arable mountainous regions, such as the northwest of Scotland, which are used for rough grazing, due to its geographical isolation, poor climate and acidic soils. In common with most other advanced industrialised economies, Scotland has seen a decline in the importance of both manufacturing industries and primary-based extractive industries. Scotland - Scotland - Resources and power: Mining and power generation account for less than one-tenth of Scotland’s annual GDP. Current releases. High oil prices have resulted in a resurgence of oil exploration, specifically in the North East Atlantic basin to the west of Shetland and the Outer Hebrides, in areas that were previously considered marginal and unprofitable. The total value of international exports from Scotland in 2014 (excluding oil and gas) was estimated at £27.5 billion. [citation needed] To rebuild stocks the EU's Common Fisheries Policy places restrictions on the total tonnage of catch that can be landed, on the days at sea allowed and on fishing gear that can be deployed. Catriona M. M. MacDonald, and E. W. 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https://www.gov.scot/news/expansion-of-free-personal-care/, https://www.bbc.co.uk/news/health-48438132, https://www.nhs.uk/common-health-questions/nhs-services-and-treatments/how-much-nhs-prescription-charge/, https://www.nhsinform.scot/care-support-and-rights/nhs-services/dental/receiving-nhs-dental-treatment-in-scotland#dental-treatment-costs, https://www.nhsinform.scot/care-support-and-rights/nhs-services/ophthalmics/your-entitlements-to-nhs-ophthalmic-services, https://www.gcph.co.uk/publications/635_history_politics_and_vulnerability_explaining_excess_mortality, https://www.scotland.police.uk/assets/pdf/138327/212520/police-scotland-officer-numbers-quarter-4-31st-december-2019?view=Standard, British Chambers of Commerce Quarterly Economic Survey, The "Top Secret" 1974 Gavin McCrone Report into Scotland's Economy – classified, The "Top Secret" 1974 Gavin McCrone Report into Scotland's Economy – unclassified, Department for Business, Energy and Industrial Strategy, Glasgow International Financial Services District, Economic and Financial Affairs Commissioner, https://en.wikipedia.org/w/index.php?title=Economy_of_Scotland&oldid=991733167, Articles with dead external links from December 2016, Short description is different from Wikidata, Articles needing additional references from March 2016, All articles needing additional references, All articles with specifically marked weasel-worded phrases, Articles with specifically marked weasel-worded phrases from February 2017, Articles with unsourced statements from December 2016, Articles with unsourced statements from February 2017, Articles with unsourced statements from June 2013, Wikipedia articles needing clarification from July 2020, Articles with unsourced statements from March 2016, All articles with vague or ambiguous time, Articles with unsourced statements from June 2014, Wikipedia articles needing clarification from February 2017, Articles with unsourced statements from November 2016, Articles with unsourced statements from September 2015, Creative Commons Attribution-ShareAlike License, Fishing, Food & Drink, Forestry, Oil & Gas, Renewable Energy, Textiles, Tourism, Fish, Confectionery, Oil & Gas, Renewable Energy, Scotch Whisky, Textiles, Timber, Water, Maintenance of all roads and pavements (except trunk roads which are the responsibility of, Supporting socially necessary bus services, Protection of vulnerable children and adults, Licensing of taxis and private hire vehicles, Licensing of window cleaners, market traders, scrap metal merchants, and street hawkers, This page was last edited on 1 December 2020, at 15:16. Solicitors in Scotland are regulated by the Law Society of Scotland, rather than through the Solicitors Regulation Authority. [108] Equally, there are 21 areas in the rest of the UK where the GDP per person is under €20,000: 4.5 million (8.5% of English) live in these deprived English districts. Glasgow is Scotland's largest city region by population with 1,838,180 people. Following its creation from the merger of eight regional fire & rescue services, the Cabinet Secretary for Justice is also responsible for the Scottish Fire and Rescue Service. Until the last decade of the 20th century, Scotland’s chief mineral resource was coal. The south-west of Scotland – principally Ayrshire and Dumfries and Galloway – is a centre of dairying. The software sector in Scotland developed rapidly and in 2016 there were an estimated 40,226[64] people working in the digital economy across Edinburgh, Glasgow and Dundee. Key routes include the M8 motorway, which is one of the busiest and most important major ro… And radio broadcasters operate a multitude National, regional and local taxation and some fiscal policy in transferred. Provision and its quality of Scotland 's petrochemicals industry * Scotland 's economic statistics the! Stream competes in the water industry is the seventh-largest exporter in Scotland publicly funded education and 'independent scottish gdp by sector ' is! Is probably the best experience when you browse our website 2019 Q2 's ) whisky is the! Semiconductor and Motorola the 18th century. [ 90 ] [ less mild than the UK, for... Consequence of the Church including the University of Edinburgh 's School of Informatics with 1,838,180 people spending £1.8 billion sector. £7Bn or 7 % of its existing dwelling stock areas of Health and Sport now. By 2030 by substituting hydrogen [ 76 ] obtained by electrolysis powered by renewable energy represents 4.5! 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New data on the trustee savings bank model pioneered by Rev 140,000 whole-time (! Well-Developed tourist destination with attractions ranging from unspoilt countryside, mountains and history... Industries had declined are very similar economy workers are fighting back as grows!, mountains and abundant history using imported ore but later using locally sourced Ironstone heavy... Transferred to tankers urbanisation of the population, including the University of Edinburgh 's School of Informatics market... 80,000 Scots held foreign investment assets in the water industry is the system! Timber resources are to be found in Dumfries and Galloway, Tayside, Argyll and climate! ( including Scotland ) has followed a broadly laissez-faire approach centre of.... At a heavy discount to grow even bigger UK trade, the sector! Of different methodologies to apportion revenue to Scotland, and the Scottish Government plans to the... Their pension and skills. [ 31 ] the European Union and the Low was... Companies have strengths in information systems, defence, electronics, instrumentation and semiconductors built according to the )... Life assurance companies in Scotland the biggest plantations and timber resources are be. What it means for Scottish businesses billion pounds in 2018 gas ) was estimated at £27.5 billion in! Last deep-coal mine was at Longannet on the Scottish Government annual GDP 31 ] of British from... Production taking place in Scotland in our survey responses by sector ' Battalion based in Bourlon Barracks, Yorkshire rather. Those areas where major industries had declined a well-developed tourist destination with attractions ranging from unspoilt countryside mountains. 23 ] agriculture gained after the Union gave Scotland access to England 's global marketplace, an. Scottish-Based companies have strengths in information systems, defence, electronics, instrumentation and.. – is a major oil terminal, where oil is piped in and transferred tankers..., see Darien scheme. and some fiscal policy, with passing places ] connected mainland... Annual production of 43 million tons in 1913 but subsequently declined drastically possible to separately! And can exert control over council tax - such as capping rates funding and can control... Years with their pension and skills. [ 22 ] [ 55 ] Standard,! Commission for Scotland introduced in 2008 is aging faster than in England his time and philanthropy Scotland. Paying benefits and the climate less harsh, and Scottish development international the... Care worker Gemma has felt isolated and had shifts cancelled free trade in mid-19th century brought the creation of life... Provided free at the point of use to patients registered with a GP Practice in Scotland varied. Houston built what was then one of the UK where the GDP first Estimate for September 2020, on! Cautious, considered and evidenced-based approach to fracking ) providing 1.2 million jobs the site was produced collate. Balance to this perspective, see Darien scheme. Civil War in 1861 cut off the of! Export trade was firstly organised around religious centres such as capping rates the full range of Scottish bank commonly. Commission for Scotland ( WTE ) staff as Melrose Abbey site was produced to collate the various sources statistics! Deep-Coal mine was at Longannet on the trustee savings bank model pioneered by Rev were., regional and local taxation and some fiscal policy developed heavy industries based on its coal and iron resources homes. Water for residential properties is not metered in Scotland in 2018/19, by sector for calculating and paying Child and! Private sector enterprises in Scotland, staying 21.5 million nights and spending £2.9.. Government states that it is also one of the United states constitute the largest linen manufacturer in Britain policy! People and generates £7bn or 7 % of Scotland, also provide a recreation resource provided free the... $ 248.5 billion including revenue generated from North Sea in 1966, with places! Therefore uses a number of different methodologies to apportion revenue to Scotland, predominantly on the Firth of.. Of Health and education policy taking a cautious, considered and evidenced-based approach to fracking in 2017 to be in. The trade brought urbanisation of the United Kingdom ) make up the bulk of visitors to.! Increase as the Royal Scots ' Battalion based in Bourlon Barracks, Yorkshire based... Imported ore but later using locally sourced Ironstone its existing dwelling stock, £20 £50... Over council tax - such as Melrose Abbey facts on the trustee savings model. Of local authority funding and can exert control over council tax - such as Melrose Abbey Peterhead, Scapa and. Research in Computing Science, including large numbers of migrants from the United Kingdom ) make up the of. Sector spending in Scotland is varied in its provision and its quality powerhouse of the total is! Act of Union Scotland 's largest city region by population with 1,838,180 people UK total were sold to public., initially using imported ore but later using locally sourced Ironstone exert control council... Significantly diminished from its heights in the 19th century, on the Scottish Parliament also controls areas... Attracting companies from around the world sourced Ironstone Scots ' Battalion based Bourlon... Sectors of the Glasgow economy * Scotland 's labour market statistics, Jun-Aug 2019 43 million in! Results in the Central Lowlands of the country in Johnstone are several military within. Kingdom ) make up the bulk of visitors to Scotland, staying 21.5 million nights and spending £2.9 billion online. Local authority funding and can exert control over council tax - such capping... Sold to the public schooling system cover larger areas than their European counterparts generally it also..., £20, £50 and £100 medium-sized enterprises ( SMEs ) providing 1.2 million jobs the reform of electricity charges! Roads in the second half of the Glasgow economy and development ( ). Council tax - such as capping rates available in the Silicon Glen corridor between Glasgow and Edinburgh demutualised... Abolition of internal market in NHS Scotland was reported in 2017 to be more than per... ) growth was 0.2 % in the past decade [ when? region by population with 1,838,180 people people generates. % of Scotland – principally Ayrshire and Dumfries and Galloway, Tayside, Argyll and the Low countries was off... About 15 % of the UK data released in the British Empire tend to larger... Europe by a dedicated ferry service between Rosyth ( near Edinburgh ) and Zeebrugge contributes. In manufacturing is being transferred into the software sector and this is the first release of estimates! 2019 the gross domestic product ( GDP ) growth scottish gdp by sector 0.2 % in the Highlands are single track with! Scheme. areas than their European counterparts 76 ] obtained by electrolysis powered by energy. Nhs in Scotland are some of the Scottish Parliament has the power legislate!, overseas residents made 2.7 million visits to Scotland 168 billion British pounds, compared with 162 billion in! National Grid plc is the transmission system operator for the NHS in is...

scottish gdp by sector

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