About the GDP Quarterly National Accounts
This publication includes the second estimate of onshore GDP growth for 2023 Quarter 1 (January to March), which uses additional data released since the Quarterly GDP First Estimate published on 31 May 2023. The results in this release are comparable to the UK Quarterly National Accounts for Quarter 1 published on 30 June 2023.
In addition to the second estimate of onshore growth in real terms, the GDP Quarterly National Accounts also includes:
- Total GDP in nominal (cash) terms for the onshore economy and also the wider economy including offshore activities
- Onshore GDP in nominal terms broken down using all three of the output, expenditure and income approaches
- Experimental statistics estimates of the expenditure approach to GDP in real terms
- Household Sector income and expenditure accounts for Scotland, including Gross Disposable Household Income (GDHI) and the Household Savings Ratio
- Public sector revenues.
Gross domestic product (GDP) is the main indicator of economic activity in Scotland. There are three ways to measure GDP which should all produce the same result. Each of these approaches allows GDP to be broken down into different categories.
The GDP Quarterly National Accounts covers all three approaches to GDP and their breakdowns in current prices (cash terms, unadjusted for inflation) for the onshore economy. Estimates of onshore GDP in real terms are available using the output approach, and are now also available for the expenditure approach as experimental statistics.
The GDP Quarterly National Accounts also includes estimates of total GDP in current prices for the wider Scottish economy including an illustrative share of UK extra-regio (offshore and overseas) economic activity.
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