Quarterly National Accounts Scotland
Quarter 1 2014
A National Statistics Publication For Scotland
Date: 13 August 2014
- In the year to 2014 Quarter 1, onshore Scottish Gross Domestic Product (GDP) is estimated to have been around £130 billion in total, and £24,300 per capita.
- Including a population share of extra-regio (offshore) activity assigned to Scotland, GDP is estimated at around £132 billion in total, and £24,700 per capita.
- Including a geographical share of extra-regio (offshore) activity, GDP is estimated at around £148 billion in total, and £27,700 per capita.
- Household final consumption expenditure (HHFCE) increased by 1.2 per cent in current price (nominal) terms during the first quarter of 2014.
- Gross disposable household income (GDHI), which is the amount of all income left for spending or saving after accounting for items such as pensions and social benefits, showed no growth during the latest quarter.
- The household savings ratio, which is defined as the relative difference between households’ expenditure and income, fell slightly in the latest quarter to 5.0% due to spending increasing at a faster rate than income. However compared to a year earlier, the savings ratio is unchanged.
ABOUT THIS PUBLICATION
This release provides users with a range of macroeconomic statistics for Scotland, including Gross Domestic Product (GDP) measured using output, income and expenditure approaches, estimates of UK extra-regio activities attributable to Scotland, household sector income accounts, and public sector revenues. Unless specifically marked as including a share of extra-regio (offshore and overseas) activity, results in this release relate to the onshore Scottish economy.
Data in this bulletin, unless otherwise stated, have been seasonally adjusted (SA) with seasonal effects removed to allow comparisons over time. Unless otherwise stated, estimates are given in current prices (CP), sometimes known as nominal terms, without any adjustment for inflation. More information on the content of this bulletin and on the uses made of the statistics can be found in the background notes.
This release of Quarterly National Accounts Scotland is the first to be designated as a National Statistics publication. Previous versions published since October 2010 are available at www.scotland.gov.uk/Topics/Statistics/Browse/Economy/SNAP/QNAS