GDP Quarterly National Accounts for 2020 Quarter 2

Scotland’s GDP is confirmed to have fallen by an unrevised rate of 19.4% during Quarter 2, according to statistics announced today by the Chief Statistician. This is the second consecutive quarter of falling GDP, following the contraction of 3.2% in Quarter 1. Compared to the same period last year, GDP is estimated to have fallen by 21.9%.

During the second quarter, the updated figures show that output in the services sector fell by 18.9%, output in the production sector fell by 15.6%, and output in the construction sector fell by 41.5% compared to 2020 Quarter 1.

The GDP Quarterly National Accounts publication includes the second estimate of growth for the April to June period. This uses additional data which has been released since the first estimate was published in September. The Quarterly National Accounts also includes a range of other statistics which are used for economic analysis, forecasting and modelling.

Background

The full statistical publication and data are available at: https://www.gov.scot/publications/gdp-quarterly-national-accounts-2020-q2

The Scottish Government has developed new faster economic statistics which help to track the impact of the COVID-19 pandemic on the economy. Experimental monthly GDP estimates up to August 2020 are available at https://www.gov.scot/publications/monthly-gdp-august-2020

Change in gross domestic product (GDP) is the main indicator of economic growth. All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). GDP growth in this publication relates to Scotland’s onshore economy, which means it does not include the output of offshore oil and gas extraction. Estimates of the cash value of Scotland’s GDP are available excluding and including oil and gas extraction.

Further information on GDP statistics

These estimates are compiled in line with the Code of Practice for Statistics