GDP Quarterly National Accounts: 2024 Quarter 1 (January to March)
An accredited official statistics publication.
This release includes updated estimates of gross domestic product (GDP) for Scotland, along with a range of additional economic statistics which are used for economic forecasting and modelling.
Revisions
In this release, Scotland’s GDP has been open for revision in 2024 Quarter 1 only, with no revisions to earlier periods. Estimates from 2021 onwards remain provisional, while annual estimates for earlier years are constrained to the Supply and Use Tables for 1998-2020, published on 29 November 2023. Details of revisions to GDP growth of each industry can be found in the downloadable GDP by volume tables.
GDP growth in volume terms has been revised down from 0.7% to 0.5% since the first quarterly estimate. This downward revision is mostly accounted for by the updated data on wind electricity generation being lower than the early estimates based on incomplete data. Revisions in other industries are due to routine updates of source data, and late or revised returns to the monthly business survey.
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