Government welcomes ‘fantastic’ growth in key economic sectors

Scotland’s tourism, food and drink, and creative industries have all grown over the last year, figures show.

Statistics published by the Scottish Government reveal that between 2016 and 2017, approximate Gross Value Added (aGVA) increased in five of six key growth sectors.

The energy sector saw a rise of 29.6%, the creative industries experienced an increase of 11.1%, the food and drink sector rose 6.3%, sustainable tourism went up 6%, and the business services sector increased by 4.7%.

The life sciences was the only growth sector that experienced a decrease in aGVA between 2016 and 2017, by -6.1%.

Growth was recorded during the period for three of the four main sectors of the non-financial business economy, with the services sector rising by 7%, primary industries increasing by 32%, whilst the construction sector saw a rise of 7.6%.

Manufacturing was the only main sector that experienced a decrease in aGVA year-on-year, by -2.1%.

Economy Secretary Derek Mackay welcomed the growth of key sectors.

He said: “Scotland’s growth sectors are hugely important to our economy so it is fantastic to see them generally performing well.

“This includes tourism, food and drink and the creative industries which have all had an incredibly successful year.

“As industries that showcase the very best of Scotland, these are sectors that we should be rightly proud of – both in their significant contribution to our economy as well as in their impact on communities right across the country.

“And behind this is the drive and determination of the people who make up these industries – their hard work is key to ensuring that Scotland’s growth sectors thrive.”

Read Full Story

FROM OUR PARTNERS