Quarterly National Accounts Scotland
Quarter 3 2014
A National Statistics Publication For Scotland
Date: 18 February 2015
- During the twelve months to September 2014, onshore Scottish Gross Domestic Product (GDP) is estimated at £133 billion in total, or £24,900 per person.
- Including a population share of extra-regio (offshore) UK economic activity, Scottish GDP is estimated at £135 billion in total, or £25,200 per person.
- Including a geographical share of extra-regio (offshore) activity, Scottish GDP is estimated at £150 billion in total, or £28,100 per person.
- Household final consumption expenditure (HHFCE) increased by 2.0 per cent in current price (nominal) terms during the third 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, increased by 0.7 per cent during the latest quarter.
- The household savings ratio, which is defined as the relative difference between households’ expenditure and income, is estimated at 5.9% in the latest quarter, similar to a year earlier. Over the year, spending has risen broadly in line with disposable income.
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.
Results in this bulletin, unless otherwise stated, have been seasonally adjusted (SA), where regular seasonal effects are 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.
All statistics quoted in this bulletin (Tables A-I) are produced using the European System of Accounts 1995 (ESA95). These should not be compared with recent statistics for the UK or other countries which are now using ESA2010 or the equivalent System of National Accounts SNA 2008. Provisional estimates of total GDP on an ESA10 basis have been included in Table X1. Further details are included on page 8 of the statistical bulletin.
18 February, 1530: A clerical error was found in Summary Table G (and Supplementary Table 9) in the values reported in RUK Imports and Trade Balance columns. This did not reflect errors in the underlying data and had no impact on any other figures reported in the publication. This has now been corrected.