GDP Quarterly National Accounts: 2023 Quarter 4 (October to December)

An accredited official statistics publication.

This release includes updated estimates of gross domestic product (GDP) for Scotland, along with a range of additional economic statistics which are used for economic forecasting and modelling.


In this release, Scotland’s GDP has been open for revision in 2023 only, with no revisions to earlier periods. Estimates from 2021 onwards remain provisional, while annual estimates for earlier years are constrained to the Supply and Use Tables for 1998-2020, published on 29 November 2023. Details of revisions to the industries and other components of GDP can be found in the downloadable tables.

There are no significant changes to GDP or its components during 2023, but there has been a slight downward revision to growth across the year. This is seen in the revision to the annual growth rate for 2023 from a first estimate of 0.2% to the latest estimate of 0.1%.

Estimates of extra-regio GVA for 2023 have been updated based on the latest official statistics in development of supply and use satellite accounts for extra-regio activities. These statistics are based on balanced estimates of supply and demand, production, exports and imports associated with offshore oil and gas production in Scottish adjacent waters. Updated estimates of extra-regio GVA for 2021 and 2022 have not been introduced into the quarterly national accounts at this time, but will be when the revisions period is open for those years.



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