GDP Quarterly National Accounts: 2023 Quarter 1 (January to March)

This publication includes updated estimates of onshore GDP growth in real terms up to the first quarter of 2023, along with additional breakdowns of GDP by categories of income and expenditure, and key household sector economic statistics, which are used for economic forecasting and modelling.

Second quarterly estimate of onshore GDP growth for 2023 Quarter 1

Scotland’s onshore GDP (i.e. excluding offshore oil and gas) is estimated to have grown by 0.2% during 2023 Quarter 1 (January to March), revised down from the first estimate for the quarter of 0.4% published on 31 May. The increase in the latest quarter follows unrevised growth of 0.2% during 2022 Quarter 4 (October to December) and a fall of 0.3% during Quarter 3 (July to September).

Compared to the same quarter last year, Scotland’s GDP has grown by 0.1%.

There have been no revisions to growth in 2022 or earlier years. Scotland’s onshore economy grew by 4.9% in 2022. This follows growth of 8.4% in 2021 and a fall of 12.2% in 2020.

In quarterly terms, the level of GDP is 0.2% below the level in 2019 Quarter 4, prior to the impacts of the coronavirus (COVID-19) pandemic, after an initial fall of 24.5% between 2019 Quarter 4 and 2020 Quarter 2.

In 2023 Quarter 1, output in the services sector increased by 0.3% overall compared to the previous quarter, with growth in eight of the fourteen subsectors. The largest positive contributions came from professional, scientific and technical activities (+2.4%) and administrative and support services (+2.4%), with the largest negative contribution from wholesale, retail and motor trades (-1.2%).  

Output in the production sector fell by 0.3% overall, with growth of 0.4% in manufacturing and 0.5% in electricity and gas supply offset by falls in mining and quarrying (-3.6%) and water supply and waste management (-3.2%).

Output in the construction sector grew by 0.4% during Quarter 1.

The Monthly GDP estimates (which are experimental statistics) give a more detailed indication of the trends for each industry sector, and include results up to May 2023 at the time of release.



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