As of 2016, there were approximately 545,000 people employed in the public sector, which accounts for 20.9% of employment in Scotland – this includes all medical professionals employed within the National Health Service in Scotland, those employed in the emergency services and those employed in the state education and higher education sector. The Scottish Parliament has the power to legislate in all areas that are not explicitly reserved to Westminster. Scotland's history in manufacturing is being transferred into the software sector and this is attracting companies from around the world. Other important industries include textile production, chemicals, distilling, agriculture, brewing and fishing. Prestwick Airport also has large air freight operations and cargo handling facilities. Scotland was[clarification needed] connected to mainland Europe by a dedicated ferry service between Rosyth (near Edinburgh) and Zeebrugge. In the 21st century, with the high rates of growth in many emerging economies of southeast Asia such as China, Thailand and Singapore, there was a drive towards marketing Scottish products and manufactured goods in these countries.. The other GDP Quarterly National Accounts tables will be updated to â¦ Many young men built careers as imperial administrators. Following the implementation of the Scotland Act 2012 and Scotland Act 2016, an increasing amount of revenue is set to be devolved to the Scottish Parliament, whereby direct Scottish measures of these revenues will be available. In many places, the industry is closely linked to tourism, with many distilleries also functioning as attractions worth £30 million GVA each year. Investment, insurance and asset servicing, Relationship with the rest of the United Kingdom, Scotland's debts were taken over by England, "These are exports of goods and services by Scottish companies to customers in the rest of the UK. Latest facts on the Scottish economy including information on employment levels, industry sectors, business growth, levels of innovation and exports. , Cotton began to replace linen in economic importance during the 1770s, with the first mill opening in Penicuik in 1778. The currency of Scotland is the Pound sterling, which is also the world's fourth-largest reserve currency after the US dollar, the euro and Japanese yen. , During the 18th century, the trade in linen overtook that in wool, peaking at over 12 million yards produced in 1775.  Principal whisky producing areas include Speyside and the Isle of Islay, where there are eight distilleries providing a major source of employment. Figures used for comparing GDP performance between Scotland and the UK refer to GDP at basic prices, also known as Gross Value Added (GVA). Some of these have been sold on again and are now leased as private rental housing inside what was once a wholly council-owned housing scheme.  The most distinct differences in the Scottish criminal justice system is that only a simple majority of 15 is required to convict, the requirement for corroberation of evidence, and the existence of a third verdict. Similarly asset servicing on behalf of fund managers has become an increasingly important component of the financial services industry in Scotland, with Scottish-based companies providing expertise in securities servicing, investment accounting, performance measurement, trustee and depositary services and treasury services. Medical care is provided free at the point of use to patients registered with a GP Practice in Scotland. Scotland - Scotland - Economy: During the 1970s and â80s Scotlandâs economy shared in acute form the problems besetting many European countries, brought about by rapid changes that included the widespread failure of heavy industries. The economy has thus become more diversified and therefore stabler. Weâre using the powers of the Scottish Parliament to make our economy stronger still. With a nominal gross domestic product (GDP) of up to £152 billion in 2015, total public sector non-North Sea current revenue in Scotland was estimated to be £53.7 billion in 2015‑16 approx. The UK deficit is equivalent to 1.1% of its GDP. By 1770, Glasgow was the largest linen manufacturer in Britain. Scotland's GERD in 2018 represented 1.65% of Gross Domestic Product (GDP), just below that of the UK (1.71%), the EU (2.03%) and OECD (2.38%). SMEs accounted for 99.3% of all private sector enterprises and for 54.6% of private sector employment and 40.5% of private sector turnover. This statistic shows public sector expenditure in Scotland in 2018/19, by sector.  The average GDP per capita in the South East England region (excludes London) is €34,200 with no local government area showing a GDP per capita of less than €20,000. The Scottish Government has stated that no fracking can or will take place in Scotland while the moratorium remains in place. Employment in the tourism-related industries sector (as measured by the Scottish Government's Sustainable Tourism Growth Sector) in Scotland was 207,000 in 2016 - accounting for around 8.0% of employment in Scotland. This update provides a snapshot of new data on the Scottish economy and households based on data released in the last fortnight. In tandem with the decline of sea-fishing, commercial fish farms, especially in salmon, have increased in prominence in the rivers and lochs of the north and west of Scotland. In 2018, Scottish GDP per person is estimated at £32,800 including a geographical share of oil â¦ Local government in Scotland currently consists of 32 Councils, which govern many aspects of daily life in Scotland, including: Non-domestic rates in Scotland were previously collected by councils, pooled and redistributed to councils according to a set formula without any passing through central government funds with nationally set exemptions, rebates and other measures. The rail-operator Abellio ScotRail operates most routes within Scotland, with long-distance connections to London operated by Avanti West Coast and London North Eastern Railway. There are major deep-water port facilities at Aberdeen, Grangemouth, Greenock, Peterhead, Scapa Flow and Sullom Voe. " The Scottish Government states that it is taking a cautious, considered and evidenced-based approach to fracking.  Scotland has been identified as having significant potential for the development of wind power. Plans have been published by the major airport operator BAA plc to facilitate the expansion of capacity at the major international airports of Aberdeen, Edinburgh and Glasgow, including new terminals and runways to cope with a large forecast rise in passenger use. This commentary reflects our understanding of issues at the time of writing drawn from a wide range of credible and respected sources and should not be taken as Scottish Enterprise policy. The principal companies operating in the sector include; BAE Systems, Rolls-Royce, Raytheon, Alexander Dennis, Thales, SELEX Galileo and Babcock.  A modest amount of opencast coal mining continues. In 2018, "real" GDP for the UK increased by 1.4%; the highest annual growth of Nomenclature of Units for Territorial Statistics: NUTS1 areas was in both London and the West Midlands at 2.0% and the lowest annual growth was in Northern Ireland at negative 0.5%. , Starting in 1873 with Robert Fleming's Scottish American Investment Trust, a relatively broad stratum of Scots invested in international investment trust ventures. According to Eurostat figures (2013) there are huge regional disparities in the UK with GDP per capita ranging from €15,000 in West Wales to €179,800 in Inner-London West. Scotland's international exports (excluding oil and gas) increased in 2018 by £1.1 billion (3.4%) to £33.8 billion, Exports to the rest of the UK also increased, up £1.2 billion (2.5%) to £51.2 billion. 343,535 were small and medium-sized enterprises (SMEs) providing 1.2 million jobs. , Since the Devolution Referendum of 1997, in which the Scottish electorate voted for devolution, a Scottish Parliament was reconvened under the Scotland Act 1998 and is considered to be a devolved national, unicameral legislature of Scotland. According to the REF 2014 assessment for computer science and informatics the School of Informatics has produced more world-leading and internationally excellent research (4* and 3*) than any other university in the UK. Agriculture, especially cropping in Scotland, is highly mechanised and generally efficient. With the growth of oil exploration during that time, as well as the ancillary industries needed to support it, the city of Aberdeen became the UK's centre of the North Sea Oil Industry, with the port and harbour serving many oil fields off shore. "In October 2017 the Scottish Government announced a ban on fracking after a 6 year struggle that saw massive opposition to the industry across the country. The two largest sectors were professional, scientific and technical activities (48,155 enterprises) and construction (47,500 enterprises), together accounting for 27.7% of all private sector enterprises. Half of the net growth in the Scottish economy in Q1 came from sectors which together comprise just 6% of the Scottish economy. Chart showing top 5 employment sectors in Scotland (000's).  This will allow health and environmental impact tests to be carried out as well as a full public consultation to allow every interested organisation and any member of the public to input their views.  The NHS in Scotland began in 1948 under a separate Act from England and Wales and was the responsibility of the Secretary of State for Scotland rather than the Health Secretary before devolution. Whisky is probably the best known of Scotland's manufactured products. How Scottish gig economy workers are fighting back as sector grows in pandemic.  Grangemouth is at the centre of Scotland's petrochemicals industry. A national statistics publication for Scotland. Council tax bills in Scotland still include water rates if the property has a water mains connection - it is important to note that some properties in rural areas are not connected to the mains network and have their own private water supply.  Equally, there are 21 areas in the rest of the UK where the GDP per person is under €20,000: 4.5 million (8.5% of English) live in these deprived English districts.  The shipbuilding industry on the River Clyde increased greatly from the 1840s and by 1870 the Clyde was producing more than half of Britain's tonnage of shipping. Published October 2019. . RAF Lossiemouth, RAF Kirknewton, RAF West Freugh, Kinloss Barracks, Redford Barracks, Dreghorn Barracks, Glencourse Barracks, Cameron Barracks, Forthside Barracks, Gordon Barracks, Walcheren Barracks. The tourism economy and tourism related industries in Scotland support c. 196,000 in 2014 mainly in the service sector accounting for around 7.7% of employment in Scotland. Need help? , In modern times, knitwear and tweed are seen as traditional cottage industries but names like Pringle have given Scottish knitwear and apparel a presence on the international market. Public education in Scotland is more standardised than in England - Scotland has no equivalents of publicly funded grammar schools, free schools, nor academies except for Jordanhill School which is maintained by the Scottish Government through direct Grant-in-Aid. Companies such as IBM and Hewlett-Packard have been in Scotland since the 1950s being joined in the 1980s by others such as Sun Microsystems (now owned by Oracle). The Gross Domestic Product (GDP) of Scotland in 2013 was $248.5 billion including revenue generated from North Sea oil and gas. Scottish Water's retail company Business stream competes in the water retail market. Infrastructure in Scotland is varied in its provision and its quality.  A further 150,000 WTE staff work in social care and services. Edinburgh was ranked 15th in the list of world financial centres in 2007, but fell to 37th in 2012, following damage to its reputation, and in 2015 was ranked 71st out of 84. There are 26 areas in the UK where the GDP per person is under €20,000. Almost all of these enterprises (98.2%) were small (0 to 49 employees); 3,920 (1.1%) were medium-sized (50 to 249 employees) and 2,365(0.7%) were large (250 or more employees). Scottish waters consisting of a large sector of the North Atlantic and the North Sea, containing the largest oil resources in the European Union – The economic effects of the Union on Scotland were negative in the short term[Scotland's debts were taken over by England], due to an increase in unpopular forms of taxation (such as the Malt Tax in 1712) and the introduction of duties on imports, which the Scottish exchequer had previously been neglectful in enforcing on most trade goods. This has, however, been combined with a rise in the service sector of the economy, which has grown to be the largest sector in Scotland. Key routes include the M8 motorway, which is one of the busiest and most important major roâ¦ The motorway and trunk road network is principally centred on the cities of Edinburgh and Glasgow and connecting them to other major concentrations of population, and is vitally important to the economy of Scotland. Oil was discovered in the North Sea in 1966, with the first year of full production taking place in 1976. and it contributes over £4.25 billion to the UK economy, making up a quarter of all its food and drink revenues. GDP often features in the news, for example in the current climate, where both the UK and Scotland have officially entered a recession following two consecutive quarters of negative GDP growth.But GDP isnât just one simple figure.
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