September 28, 2022
  • September 28, 2022

Scottish economic output up 1.1% in January

By on March 24, 2022 0

SCOTLAND’s economic output jumped 1.1% month-on-month in January – ahead of a 0.8% increase across the UK – to be 0.8% higher to its pre-pandemic level of February 2020.

The rise in Scotland’s onshore gross domestic product, which excludes offshore oil and gas extraction, was revealed in seasonally adjusted figures from the Scottish Government yesterday.

UK GDP in January was also 0.8% above its pre-pandemic level.

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The Scottish Government’s GDP statement says: ‘Since the start of the Covid-19 pandemic, Scotland’s GDP trajectory has been broadly similar to the pattern seen across the UK, with reductions without production precedent in 2020 and early 2021 largely determined by social distancing and health protection measures that have been similarly enforced across the UK.

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Economy Secretary Kate Forbes noted that growth in January was broad-based. However, she added that the Scottish economy “continues to face the challenges of Brexit, the rising cost of living and the impacts of Russia’s illegal invasion of Ukraine”.