GDP Quarterly National Accounts for 2021 Quarter 3

Scotland’s onshore GDP is now estimated to have grown by 0.7% during 2021 Quarter 3 (July to September), according to updated statistics announced today by the Chief Statistician. The growth rate in the latest quarter has been revised down from the previous estimate of 1% fall published in December.

In quarterly terms, the level of GDP is now 2.2% below the level in 2019 Quarter 4, prior to the direct impacts of the coronavirus pandemic.

The GDP Quarterly National Accounts publication includes an updated estimate of growth for the July to September period. This uses additional data which has been released since the Quarterly GDP First Estimate was published in December. 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.

The Scottish Government has developed faster economic statistics which help to track the impact of the COVID-19 pandemic on the economy. Experimental monthly GDP estimates up to November 2021.

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.