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QNAS 2017 Q4

Downloadable documents:

Title:Quarterly National Accounts Scotland, 2017 Quarter 4
Description:Quarterly National Accounts for Scotland, 2017 Q4
File:QNAS 2017 Q4 - Visual Summary [PDF, 382.2 kb: 02 May 2018]
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File:QNAS 2017 Q4 - Statistical Bulletin [PDF, 658.4 kb: 21 May 2018]
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File:QNAS 2017 Q4 - Summary Tables [XLS, 636.4 kb: 21 May 2018]
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Quarterly National Accounts Scotland, 2017 Quarter 4

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Quarterly National Accounts Scotland

Quarter 4 2017        

A National Statistics Publication for Scotland

Date: 2 May 2018

KEY RESULTS
  • This publication includes results for the fourth quarter of 2017 (October-December) and annual results for 2017 as a whole.

  • During 2017 as a whole, the value of Scotland’s onshore GDP is estimated at £152.1 billion in total, or £28,046 per person, in current prices.

  • Including a geographical share of UK extra-regio (offshore and overseas) economic activity, Scottish GDP is estimated at £165.4 billion in total, or £30,482 per person during 2017.

  • Over the year to 2017 Q4, compared to 2016 Q4, the expenditure measure of onshore Gross Domestic Product shows that the increase in GDP in current prices (not real terms) was mostly driven by consumer spending and net trade. Capital investment made a negative contribution to GDP growth over the latest year.

  • Manufactured Exports make up around half of the total value of exports from Scotland to the rest of the world (excluding oil and gas). The Index of Manufactured Exports (IME) decreased by 2.9% in volume terms during the final quarter of 2017. On a rolling annual basis, comparing the most recent four quarters to the previous four quarters, the volume of manufactured exports increased by 7.4%.

  • Over the year to 2017 Quarter 4, total consumer spending by the Household and Non-Profit Institutions Serving Households (NPISH) sectors is estimated to have increased by 3.3% in current prices (unadjusted for inflation, not real terms).

  • Gross Disposable Household Income (GDHI) is estimated to have increased by 1.7% over the year to 2017 Quarter 4 (in current prices, not real terms). The Household Savings Ratio is 6.8 per cent in the latest quarter, compared to an average value of 7.6 per cent during 2017.

  • In this publication there are no updates or revisions to the headline GDP growth rate of 0.3% in the latest quarter, and 1.1% compared to the same quarter last year, published in Scotland’s Gross Domestic Product on 4 April 2018.

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

  • Gross Domestic Product (GDP) of the onshore economy and components of 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 revenues.

 

RECENT CHANGES

There are no significant updates to data sources or methods in this release of QNAS. The next release in August will include the update of annual supply and use tables for 1998-2015. There is further information on updates and revisions in the background notes. 

Also released today is an experimental statistics paper on Development of a Primary Income Account and Gross National Income (GNI) for Scotland. This reports methods and results from a special project set out in the Scottish Economic Statistics Plan 2017-18, as part of the Scottish National Accounts Project (SNAP). For further information visit www.gov.scot/snap.  

Supplementary Tables

Downloadable document:

Title:Quarterly National Accounts Scotland, 2017 Quarter 4
Description:Quarterly National Accounts for Scotland, 2017 Q4
File:Quarterly National Accounts Scotland supplementary tables, 2017 Quarter 4 [XLS, 454.1 kb: 02 May 2018]
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Eratum

Erratum  14th May 2018: A correction has been made in table G2 in the statistical bulletin and summary tables due to an error in the annual figures for Metals and Metal Products (cells I7 to I25 in the summary tables). The error was confined to those cells and did not contribute to any totals.