A couple of weeks ago, Eurostat—the European Union’s statistics office—released 2015 GDP data for the EU’s nations and regions. We’ve created a couple of charts based on it.
The first shows that, measured by GDP per capita (adjusted for relative purchasing power in the EU context), Scotland is fourth out of the UK’s 12 ‘NUTS 1’ regions (onshore economy only).
Source: 2015 GDP per capita in 276 EU regions, published by Eurostat on 30 March 2017
The Scottish Government estimates that the country’s actual GDP per capita in 2015 was £26,500 for the onshore economy, £26,700 with a population share of extra-regio1 activity, and £28,400 with a geographical extra-regio share2. The most recent GDP estimates have onshore GDP per capita for the 12-month period from October 2015 to September 2016 at £27,750; £29,300 including a geographical share of extra-regio economic activity3.
The second chart compares the onshore GDP of the UK countries and regions against the 27 other countries of the EU. The UK data is for the onshore economy only.
Scotland’s onshore GDP per capita is ranked 12th alongside the EU28. When you include a geographical share of oil and gas from the continental shelf, we calculate that Scotland ranks ninth (see table below).
|Country||2015 GDP per capita (€PPP)||Rank|
|Scotland (with geographical share of North Sea oil and gas)||31,643|
We’ve based our calculations on figures in last month’s Fraser of Allander Institute publication Economic Commentary, Vol 41 No 1, in which the FAI compares Scottish GDP per capita (including oil) with that of the top OECD countries.
Below are our back-of-an-envelope sums. The multipliers between given countries in the OECD and Eurostat data are almost identical so we’ve gone with this simple approach. If any readers have a more sophisticated way of doing it, please let us know.
// OECD vs Eurostat multiplier // All € (Eurostat) or $ (OECD), PPP, for 2015 // Random check: Finland / France OECD: $42,268 (Finland) / $41,005 (France) = 1.0308011218 Eurostat: €31,600 (Finland) / €30,600 (France) = 1.0326797386 // Random check: France / UK OECD: $41,005 (France) / $41,779 (UK) = 0.9814739462 Eurostat: €30,600 (France) / €31,200 (UK) = 0.9807692308 // Random check: Austria / UK OECD: $49,440 (Austria) / $41,779 (UK) = 1.1833696355 Eurostat: €36,900 (Austria) / €31,200 (UK) = 1.1826923077 // Eurostat, Scotland with geographical share of NSOG OECD/FAI multiplier: $42,372 (Scotland with geo. share of NSOG) / $41,779 (UK) = 1.0141937337 Scotland (for Eurostat comparison): €31,200 (UK) × 1.0141937337 = €31,642.84 // Post-calculation check: Austria / Scotland (geo. share of NSOG) OECD/FAI: $49,440 (Austria) / $42,372 (Scotland with geo. share of NSOG) = 1.1668082696 Our calculation (Eurostat): €36,900 (Austria) / €31,642.84 (Scotland with geo. share of NSOG) = 1.1661404211 // OECD($)/Eurostat(€) divisor check (rounded to two decimal places) Luxembourg: 102131/76200 = 1.34 Ireland: 68481/51100 = 1.34 Netherlands: 49570/37000 = 1.34 Austria: 49440/36900 = 1.34 Denmark: 48994/36600 = 1.34 Germany: 47999/35800 = 1.34 Sweden: 47823/35700 = 1.34 Belgium: 45873/34200 = 1.34 Scotland: 42372/31643 = 1.34 Finland: 42268/31600 = 1.34 United Kingdom: 41779/31200 = 1.34 France: 41005/30600 = 1.34
- Offshore and overseas. E.g. North Sea oil and gas.
- Source: Quarterly National Accounts Scotland: Quarter 4 2015, published by the Scottish Government on 4 May 2016, page 1.
- Source: Quarterly National Accounts Scotland: Quarter 3 2016, released on 15 February 2017, page 1.