News

Economy grows 16% in the third quarter of 2020

Published: 16 Dec 2020 09:30
Part of:
Economy

A National Statistics Publication for Scotland.

The Chief Statistician has released statistics showing that the economy grew by 16.0% during the third quarter of 2020, covering the period July to September.

Change in gross domestic product (GDP) is the main indicator of economic growth. Over the year, compared to the third quarter of 2019, the economy has contracted by 9.5%.

During the third quarter output in the Construction sector grew by 52.0%, output in Production contracted by 18.6%, and output in the Services sector contracted by 13.8%.

The second estimate of GDP for the third quarter of 2020 will be available in Quarterly National Accounts Scotland, published on 3 February 2021. The first estimate of GDP for the fourth quarter of 2020 will be published on 24 March 2021.

Background

Read the full statistical publication and data.

All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). GDP growth in this publication relates to Scotland’s onshore economy, which means it does not include the output of offshore oil and gas extraction.

Read further information on GDP statistics.

These estimates are compiled in line with the Code of Practice for Statistics.