Scotland’s geographical share of North Sea oil revenues was negative for the first calendar year on record in 2016
Source: scotsman.com 10th May 2017
Analysis by economist John McLaren said the decline in North Sea revenues contrasted with a period of relative stability between 2005-2012 when Scottish offshore oil revenues did not fall below £6 billion in any single year.
Mr McLaren said: “The latest national accounts data shows that 2016 was a disappointing year for the Scottish economy.
“Much of this was connected to a further decline in the contribution of the North Sea.
“Furthermore, the Scottish trade balance for 2016 has worsened by £1.6 billion from 2015 and the savings ratio is at a record low.
“As a result, worries persist over the (Scottish) economy’s future growth potential and over the self-financed element of the Scottish budget.”