Balanced estimates of Scotland’s offshore gross value added (GVA) and the supply and use of goods and services by the oil and gas industry have been updated for the first time since January 2020. The latest statistics span the period from 1998-2021.
Estimates of Scotland's GDP using each of the production, income and expenditure approaches are available, including an illustrative geographical share of UK extra-regio activity. This includes offshore oil and gas extraction activity in Scottish adjacent waters, and, for completeness, a population share of overseas public administration and defence activity.
In 2021, the value of exports of oil and gas produced in Scotland is provisionally estimated to be £23.9 billion. Of this, £10.0 billion was directly to the rest of the world, and £13.9 billion to the rest of the UK. Some exports to RUK are likely to be subsequently re-exported to the rest of the world, so these breakdowns do not represent the final destination of the exports.
Scotland’s total exports, including oil and gas and accounting for the offshore supply chain, are provisionally estimated to have been £108.7 billion in 2021. Of this, £84.8 billion is from the onshore economy, and £23.9 billion from offshore oil and gas extraction.
Scotland’s total imports are provisionally estimated to have been £114.8 billion in 2021. Of this, £105.1 billion is to the onshore economy, and £9.7 billion is demand for extra-regio activities (mostly offshore oil and gas production, but with a small amount less than £0.1bn for overseas public administration and defence activities).
- In 2021, the overall trade deficit is estimated to be £6.0bn, or 3.3% of GDP. This compares with a value of 11.3% of GDP for the onshore trade deficit published in the latest Quarterly National Accounts.
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