This publication includes the second estimate of onshore GDP growth for 2023 Quarter 2 (April to June), which uses additional data released since the Quarterly GDP First Estimate published on 30 August 2023. The results in this release are broadly comparable to the UK Quarterly National Accounts for Quarter 2 published on 29 September 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.
GDP Monthly Estimate (experimental statistics), September 2023 29 November 2023
GDP First Quarterly Estimate (national statistics), 2023 Quarter 3 29 November 2023
GDP Monthly Estimate (experimental statistics), October 2023 20 December 2023
GDP Quarterly National Accounts (national statistics), 2023 Quarter 3 31 January 2023
A National Statistics publication for Scotland
Quarterly National Accounts for Scotland was assessed by the Office for Statistics Regulation (OSR) and designated as National Statistics in January 2014, signifying compliance with the Code of Practice for Statistics. Assessment Report 272 can be found at https://www.statisticsauthority.gov.uk/publication/quarterly-national-accounts-scotland/.
Designation can be interpreted to mean that the statistics: meet identified user needs; are produced, managed and disseminated to high standards; and are explained well.
Since the assessment there has been a programme of continuous improvement to the Quarterly National Accounts, including to the data used for capital investment and household earnings, and improved communication of the results. Some developments are ongoing and are clearly identified as experimental statistics in the release.
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