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Total Economy Effects
Using the Input Output tables, and the resultant multipliers effects, it is possible to account for the entire economic activity within the economy in terms of Final Demand (consumers, government, stocks, capital formation, and exports). It is Final Demand which drives the economy, and anything which is not produced directly for Final Demand, is produced as part of the process of generating a good or service which is ultimately destined for Final Demand.
Table 1.5 shows that consumers spend £2.037 billion on Scottish manufacturing products. Table 1.7 shows that the total consumer demand for Scottish products generates a total of £4.099 billion of manufacturing products. In total, consumers spend £18.949 billion on Scottish output, with this expenditure supporting £28.907 billion of output in the Scottish economy as a whole. Consumers expenditure creates the demand, directly and indirectly, for 23 percent of the total output of the Scottish economy of £123.782 billion (at producer prices).
Table 1.7: Analysis of Total Economy Effects on Final Demand, 1996
£ million
|
Final Demand Categories |
Consumers Expenditure |
GGFC |
GDFCF |
Stocks |
Tourist Expenditure |
Exports RUK |
Exports ROW |
TOTAL |
|
Products |
||||||||
|
Agriculture, Forestry and Fishing |
400 |
54 |
57 |
134 |
71 |
1,555 |
1,278 |
3,549 |
|
Mining |
279 |
52 |
72 |
-21 |
10 |
1,409 |
1,265 |
3,066 |
|
Manufacturing |
4,099 |
977 |
1,237 |
-197 |
355 |
12,575 |
19,745 |
38,792 |
|
Energy and Water |
2,196 |
413 |
114 |
-184 |
70 |
1,108 |
656 |
4,374 |
|
Construction |
1,123 |
646 |
4,511 |
9 |
52 |
1,002 |
182 |
7,524 |
|
Distribution and Catering |
7,099 |
887 |
1,274 |
73 |
1,356 |
5,039 |
2,357 |
18,084 |
|
Transport and Communication |
2,214 |
717 |
291 |
12 |
201 |
3,878 |
1,263 |
8,577 |
|
Finance and Business |
8,839 |
2,908 |
1,493 |
19 |
344 |
6,007 |
3,581 |
23,190 |
|
Public Admin etc |
2,189 |
10,951 |
63 |
3 |
312 |
2,023 |
275 |
15,816 |
|
Other Services |
470 |
65 |
31 |
0 |
21 |
134 |
91 |
811 |
|
Total Economy Effect |
28,907 |
17,670 |
9,143 |
-152 |
2,792 |
34,730 |
30,693 |
123,783 |
|
Domestic Demand |
18,949 |
14,205 |
5,500 |
-119 |
1,888 |
22,103 |
20,911 |
83,437 |
|
implied multiplier |
1.53 |
1.24 |
1.66 |
1.27 |
1.48 |
1.57 |
1.47 |
1.48 |
Source: Scottish Executive
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