High Level Summary of Statistics Trend Last update: Wednesday, August 06, 2008
GDP Growth: UK Comparison
Annual Gross Domestic Product ( GDP) growth rates for Scotland and the UK are calculated on a rolling four quarters on four quarters basis - this compares annual growth to the year end of the most recent quarter. UK GDP growth has been higher than Scottish GDP growth at the majority of points over the time period 1999Q4 to 2008Q1. However, Scottish GDP growth was higher than UK GDP growth in the annual period to 2001Q4, and equal to UK GDP growth in the annual period to 2002Q1. In the most recent period, 2008Q1, annual GDP growth in Scotland was 2.1%, compared to growth in the UK of 2.8% - this resulted in a gap of 0.7 percentage points between Scottish and UK GDP growth rates. The gap has decreased from the previous period, 2007Q4, where Scottish GDP grew at an annual rate of 2.0% compared to 3.0% in the UK - a gap of 1 percentage points.
The Scottish Government has set a target to raise Scotland's GDP growth rate to the UK level by 2011.
Source: Scottish Government, OCEA
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