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Gross Domestic Product ( GDP) 2: 1977-2007
Scottish GDP at basic prices (2004=100)
| 1977 | 1980 | 1990 | 1995 | 2005 | 2006 | 2007 |
|---|
Scottish GDP R
(2004=100) | 61.0 | 61.9 | 75.0 | 82.1 | 101.5 | 104.2 | 106.3 |
|---|
Maintaining economic growth is an important aspect of sustainable development. A healthy economy leads to higher living standards and greater prosperity for individuals. It also helps businesses to be profitable, which generates employment and income.
Gross Domestic Product ( GDP) is an important measure of the activity and strength of the economy. However, a high GDP does not necessarily imply an efficient use of resources.
Between 1977 and 2007, the Scottish GDP index increased from 61.0 to 106.3, representing an average annual growth of 1.9%. Over the 2007 calendar year GDP in Scotland rose by 2.2%, compared to a rise of 2.9% in the UK.
In 2007, the Scottish Government set a purpose target to raise the GDP growth rate to the UK level by 2011 and a further target to match the GDP growth rate of the small independent EU countries by 2017.
Source: Scottish Government
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