GDP – Does any other country have to ignore its offshore activity to make it seem to be in trouble?

From the Scottish Government (!) today:

Scotland’s onshore GDP is estimated to have fallen by 0.1% in November. This follows a contraction of 0.6% in October (revised from -0.5%).

In the three months to November, GDP is estimated to have contracted by 0.2% compared to the previous three month period. This indicates a slowing of growth, relative to the increase of 0.4% in 2023 Quarter 3 (July to September).

Try searching for the word ‘offshore’ in the full report. Not a mention.

But what, I hear you say about those booming energy revenues from oil, gas and renewables? You know, the ones based of consumer cost increases making us all struggle with heating bills?

Here they are:

Total government revenues from UK oil and gas production were £9 billion in financial year 2022 to 2023, compared with £1.4 billion in 2021 to 2022, an increase of £7.6 billion

90% in Scottish waters.

Renewable electricity generation was 30.1 TWh in Quarter 3 2023, 6.8 per cent higher than 2022 and a record for the third quarter of a year. Most of the increase was in wind generation driven by higher wind speeds and new onshore and offshore capacity.

25% produced in Scotland for only 8% of the UK population.

Sources:

https://www.gov.scot/publications/monthly-gdp-november-2023/pages/key-points/

https://www.gov.uk/government/statistics/government-revenues-from-uk-oil-and-gas-production–2/statistics-of-government-revenues-from-uk-oil-and-gas-production-september-2023#:~:text=total%20government%20revenues%20from%20UK,increase%20of%20%C2%A37.6%20billion

https://en.wikipedia.org/wiki/Renewable_energy_in_Scotland#:~:text=At%20the%20start%20of%202020,renewable%20generation%20(119%2C335%20GWh).

6 thoughts on “GDP – Does any other country have to ignore its offshore activity to make it seem to be in trouble?”

  1. Perhaps there is a legal requirement to report onshore and offshore separately. Why there should be such a legal requirement, I do not know.

    Alasdair Macdonald

    Liked by 3 people

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    1. The UK North Sea area was made a separate tax reporting region by the Continental Shelf Act, 1964, concedentally just after the discovery of major gas and oil fields.

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      Reply

  4. Ignore to Supreme Court, upholder of Englands tradition of Westminster sovereignty.

    Scotland is a colony, political and fiscal, of our big neighbour.

    Google “colony” and see the facts of the matter.

    The whole point of “devolution” was not to empower Scotland, but to subvert the Treaty of Union principle of equality of status, and to subordinate our 1000 year old legal system to be “inferior” to that of England.

    Liked by 4 people

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