70 years of Scottish National Accounts: 1948–2018

Abstract

This paper provides a comprehensive time series of historical National Accounts for Scotland (onshore and offshore) from 1948 to 2018. It includes a detailed breakdown by income component and industrial sector using methods that are forward and backward compatible. Through this work we offer new insights on the performance of the post-war Scottish economy, including its relative performance to the UK and its industrial makeup. Our findings also provide, for the first time, a full picture of the totality of Scotland's economy over the last 70 years by incorporating an estimate of North Sea oil and gas gross value added from within Scotland's territorial waters.