What is GDP?
Gross Domestic Product (GDP) is a measure of the value added to materials and other inputs in the production of goods and services by resident organisations; before allowing for depreciation or capital consumption. Net receipts from interest, profits and dividends abroad are excluded.
What is GVA?
There are two measures of GDP, market prices and basic prices. The estimates produced here are measured in basic prices, which excludes taxes less subsidies on products (taxes on products include VAT and excise duties). Gross Value Added (GVA) is another term for GDP at basic prices.
GDP at market prices is the headline measure used by the UK but they also produce estimates of GVA for their industry breakdown as it is difficult to break down taxes and subsidies below whole economy level. GDP at market prices is not produced for Scotland due to the same difficulty of allocating taxes and subsidies below national level.
All UK figures included in this website refer to GDP at basic prices (or GVA) for comparability. UK figures are taken from the ONS' month 3 GDP publication "Quarterly National Accounts 1st Quarter 2008" published on 30 September 2008.
What Period do these figure relate to?
The latest statistics, published on 22 October 2008 cover the period up to the 2nd quarter of 2008. Quarterly data are available from 1995 quarter 1 and annual data from 1963.
When will the figures be updated?
Estimates covering the period up to 2008 Q3 will be released on Wednesday 28th January 2008.
Where can I get estimates of the cash value of GVA?
The figures on this website are indices. The Scottish Executive does not produce cash estimates of GVA. Estimates of the cash value of GVA at current prices for Scotland (and other regions of the UK) are produced by the Office for National Statistics (ONS). Estimates for 2006 were published in December 2007 and are available via the following link. The ONS current price value estimates are methodologically different from the Scottish Executive volume index and are based on different data sources.
Link to ONS Regional Accounts