Economic Growth

The difference (percentage point) between GDP growth rate and the previous three year average. Find out more about this indicator.

The annual rate of change of GDP in Scotland in 2022 was 4.9% and the average annual GDP growth rate over the previous three years was ‑1.0%, giving a difference of 5.9%.

As the most recent growth rate was more than 0.1 percentage points above than the average for the previous three years, economic growth is currently improving.

The annual GDP growth rate of Scotland in 2022 was 5.9 percentage points higher than the average of the previous three years, indicating improving economic conditions.

The previous three year average that 2022 growth is being compared to includes 2020, during which many industries were required to cease trading during the lockdown for COVID-19, which resulted in a 12.2% fall in growth in that year.

It also includes 2021, which saw an 8.4% annual growth when many restrictions ceased. The 2024 update will be affected by the fact that the previous three years that it is being compared against will start with the year of the unprecedented bounce back after COVID-19 restrictions eased.

Performance Improving

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