Whole of Scotland Economic Accounts - Estimating balanced national accounts and trade flows including extra-regio activity
Historically, most of the economic statistics produced for Scotland (GDP, Supply-Use tables etc) relate to Scotland’s on-shore economy. The offshore economy in this treatment (including North Sea output and defence and diplomatic services overseas) are classified as extra-regio (not part of any region of the UK). For a number of years, estimates of value added in the illustrative Scottish share of extra-regio territory have been published in the QNAS publication, and these figures have also be used in the annual GERS publication.
This special project, commencing in the 2017-18 statistics plan, aims to establish a set of Supply and Use tables for this extra-regio activity (as a satellite account to the main tables) detailing flows of the value of goods and services to and from this area to onshore Scotland, Rest of the UK and Rest of the World. The satellite account can then be combined with the onshore Scottish Supply and Use tables to form a “Whole of Scotland “ set of accounts.
Gross National Income (GNI) and primary income accounts
An intitial estimate has been made of a balance of payments income account for Scotland. This estimates income inflows and outflows with the rest of the UK and the non-UK rest of the world. Taken collectively, these flows represent Scotland’s net employment income and net property income from abroad, which allow Gross National Income (GNI) to be derived from GDP.
Estimates of long term economic statistics for Scotland
Long Term time series statistics have been produced detailing GDP and Public Sector Finances back to 1980.