Quarterly National Accounts Scotland
Quarter 1 2015
A National Statistics Publication For Scotland
Date: 12 August 2015
During the twelve months to March 2015, onshore Scottish Gross Domestic Product (GDP) is estimated at £141 billion in total, or £26,400 per person.
Including a population share of UK extra-regio (offshore) economic activity, Scottish GDP is estimated at £143 billion in total, or £26,700 per person.
Including a geographical share of extra-regio (offshore) activity, Scottish GDP is estimated at £153 billion in total, or £28,500 per person.
Over the last year, Household Final Consumption Expenditure increased by 4.9% in current prices (not adjusted for inflation) compared to the first quarter of 2014.
Gross Disposable Household Income increased by 3.8% compared to the first quarter of 2014, in current prices (not adjusted for inflation).
- When spending increases more quickly than income, it indicates that households have been saving less or borrowing more during the period. This is reflected in the Household Savings Ratio, which is 6.7% in the latest quarter, down from 9.2% a year ago.
ABOUT THIS PUBLICATION
Quarterly National Accounts provides users with a range of macroeconomic statistics for Scotland, including Gross Domestic Product (GDP) of the onshore economy measured using output, income and expenditure approaches, estimates of UK extra-regio (offshore) GDP attributable to Scotland, household sector income and expenditure accounts, and public sector revenues. Unless specifically marked as including a share of extra-regio (offshore and overseas) activity, results in this release relate to the onshore Scottish economy.
Results in this bulletin, unless otherwise stated, have been seasonally adjusted (SA) to allow meaningful comparisons between periods. Esimates are clearly marked as being either current prices (CP) or chained volume measures (CVM). Current prices, also known as nominal terms, are not adjusted for inflation and describe actual cash values. Volume estimates, also known as real terms, have the effects of inflation removed and are used to indicate changes in the amount or level of activity. More information on the content of this bulletin and on the uses made of the statistics can be found in the background notes.