Scottish Annual Business Statistics 2022

Main Sectors

In 2022, approximate Gross Value Added at basic prices (aGVA) of the non-financial business economy was estimated at £124.7 billion. This is an increase of 21.8% compared with 2021. This increase reflects the continued recovery of some sectors following the COVID-19 pandemic, but also high inflation in 2022 driven by food and energy price rises.

Figure 1: Between 2021 and 2022, aGVA increased for all four of the broad sectors of the non-financial business economy. Services aGVA was up by 19.6%, Primary Industries by 42.9%, Manufacturing by 8.0% and Construction by 5.5%.

Scotland's non-financial business economy aGVA by sector, 2019 to 2022

Source: Scottish Annual Business Statistics 2022 from the Scottish Government (download data for Figure 1 from Scotland by Sector Table)

Services

In 2022, the Services sector accounted for an estimated £68.8 billion of the total non-financial business economy aGVA (55.2%). Between 2021 and 2022, aGVA for the Services sector increased by £11.3 billion (19.6%).

Figure 2: Within Services, the ‘Travel Agency and Tour Operator’ division saw the largest percentage increase in aGVA between 2021 and 2022, with aGVA growing by 138.5% (from £0.2 billion to £0.5 billion).

Scotland's Services Divisions, aGVA percentage change between 2021 and 2022

Source: Scottish Annual Business Statistics 2022 from the Scottish Government (download data for Figure 2 from Scotland by Division Table)

Primary Industries

In 2022, the Primary Industries sector accounted for an estimated £31.3 billion of total non-financial business economy aGVA (25.1%).

Between 2021 and 2022, aGVA for the Primary Industries sector increased by £9.4 billion (42.9%). The industry division contributing most to the sector increase was Extraction of Crude Petroleum and Natural Gas (division 6) which increased by £9.2 billion between 2021 and 2022, reflecting high energy prices in 2022.

Note that data for division 6 includes off-shore oil and gas activity; off-shore activity, under UK regional accounts procedures, is normally allocated to a separate ‘Extra Regio’ category rather than allocated to a region within the UK.

Manufacturing

In 2022, the Manufacturing sector accounted for an estimated £15.3 billion of the total non-financial business economy aGVA (12.3%). Between 2021 and 2022, aGVA in the Manufacturing sector increased by £1.1 billion (8.0%).

Figure 3: Within Manufacturing, the Manufacture of Beverages division saw the largest increase in aGVA between 2021 and 2022, with aGVA up by £0.4 billion (16.1%). At the other end, aGVA for the Manufacture of Chemicals and Chemical Products division fell by £0.5 billion between 2021 and 2022, which may be linked to a reduction in the manufacture of some COVID-19 related products.

Scotland's Manufacturing Divisions, aGVA change between 2021 and 2022

Source: Scottish Annual Business Statistics 2022 from the Scottish Government (download data for Figure 3 from Scotland by Division Table)

Construction

In 2022, the Construction sector accounted for an estimated £9.3 billion of total non-financial business economy aGVA (7.5%). Between 2021 and 2022, aGVA in the Construction sector increased by £0.5 billion (5.5%).

Within Construction, the ‘Specialised Construction Activities’ division saw the largest aGVA percentage increase between 2021 and 2022, with aGVA increasing by 6.8%.