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QNAS 2016 Q2

Downloadable documents:

Title:Quarterly National Accounts Scotland 2016 Quarter 2
Description:A National Statistics Publication for Scotland.
File:QNAS 2016 Q2 Statistical Bulletin [PDF, 672.6 kb: 15 Nov 2016]
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File:QNAS 2016 Q2 Publication Tables [XLS, 429.6 kb: 15 Nov 2016]
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Quarterly National Accounts Scotland 2016 Quarter 2

Quarterly National Accounts ScotlandNational Statistics

Quarter 2 2016

A National Statistics Publication For Scotland

Date: 9 November 2016

KEY FINDINGS
  • This release includes results for the second quarter of 2016 (April-June) and reports on a variety of economic statistics for Scotland, including components of GDP, the Index of Manufactured Exports (IME), households disposable income, and public sector revenues.

  • During the second quarter of 2016, Scottish onshore GDP grew by 0.4% in real terms. Over the year from the same quarter in 2015, onshore GDP grew by 0.7%. These results are re-printed in this publication without revision following their release on 12 October 2016.

  • During the latest 12 months (July 2015-June 2016), the value of Scottish onshore GDP is estimated at £147.7 billion in total, or around £27,500 per person.

  • Including a geographical share of UK extra-regio (offshore and overseas) economic activity, Scottish GDP is estimated at £156.4 billion during the latest four quarters, or £29,100 per person.

  • Analysis of the expenditure measure of onshore GDP shows that growth over the last year was driven by increases in consumer spending and capital investment. Government spending and onshore exports also both increased over the period. There was a negative contribution to GDP growth from the widening of the onshore net trade deficit, due to the increasing value of imports.

  • Manufactured Exports make up around half of the total value of exports from Scotland to the rest of the world (excluding oil and gas). In 2016 Quarter 2, the volume of manufactured exports fell by 0.8%. Compared to the same quarter last year, the Index of Manufactured Exports (IME) fell by 5.1% in real (volume) terms. Over the same period, the value of manufactured exports decreased by 5.0% in current prices, indicating close to zero inflation in average export prices.

  • Over the year to 2016 Quarter 2, total consumer spending by the Household and NPISH sectors is estimated to have increased by 3.2% in current prices (unadjusted for inflation, not real terms).

  • Gross Disposable Household Income (GDHI) is estimated to have increased by 2.9% over the year to 2016 Quarter 2 (in current prices, not real terms). The Household Savings Ratio has decreased to 2.8 per cent in the latest quarter.

ABOUT THIS PUBLICATION

Quarterly National Accounts Scotland (QNAS) includes a range of economic statistics for Scotland including:

  • estimates of the Gross Domestic Product (GDP) of the onshore economy measured using all three of the output, income and expenditure approaches;

  • alternative estimates of GDP for Scotland including two illustrative shares of UK extra-regio (offshore and overseas) activities attributable to Scotland;

  • the Index of Manufactured Exports (IME);

  • Household & NPISH Sector income and expenditure accounts for Scotland, including Gross Disposable Household Income (GDHI) and the Savings Ratio;

  • Scottish public sector revenue.

Unless specifically marked as including a share of extra-regio activity (offshore and overseas), the statistics in this release relate to the onshore Scottish economy (that is, excluding any extra-regio activity). Further information on these statistics, and on revisions in this release, is available in the background notes.

Correction Notice, 15 November 2016: Following publication, a minor error was noticed in the publication, where the annual total of one column in Table J had not been updated to reflect the latest quarterly values. This related only to Cell X102 in Table J (and displayed on page 23 of the bulletin) and has now been corrected in the downloadable documents. This did not reflect any errors in the quarterly results and had no impact on other results in the publication. 

Supplementary Tables

Downloadable document:

Title:Quarterly National Accounts Scotland 2016 Quarter 2
Description:A National Statistics Publication for Scotland.
File:QNAS 2016 Q2 Supplementary Tables [XLS, 404.5 kb: 08 Nov 2016]
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