Gross Domestic Product (GDP)R,4: 1998-2012
Scotland's Gross Domestic Product (GDP) is the main indicator of Scotland's economic performance. The GDP index is a short-term measure of output growth expressed in real terms. The estimates are adjusted for regular seasonal effects, and appropriately deflated to represent changes in the volume of economic activity rather than the value.
Between 1998 and 2012 the Scottish GDP index increased from 80.8 to 102.2, representing an average annual growth of 1.69%.
Over the 2012 calendar year, GDP in Scotland grew by 0.3%. This followed growth of 0.4% during 2011.
Following the deterioration in global economic conditions, Scottish GDP started to contract in the third quarter of 2008 before returning to growth in the last quarter of 2009.
Email: Callum Neil
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