Economy of Scotland Economy of Scotland The economy of Scotland had an estimated nominal gross domestic product (GDP) of up to £152 billion in 2015. Since the Acts of Union 1707, Scotland's economy has been closely aligned with the economy of the rest of the United Kingdom (UK) and England has historically been its main trading partner. Scotland still conducts the majority of its trade within the UK: in 2014, Scotland's exports totalled £76 billion, of which £48.5 billion (64%) was with constituent nations of the UK, £11.6 billion with the rest of the European Union (EU), and £15.2 billion with other parts
Acts of Union 1707 to unite the two realms so he would not be "guilty of bigamy;" he used the royal prerogative to take the title "King of Great Britain" and give a British character to his court and person. The 1603 Union of England and Scotland Act established a joint Commission to agree terms but the English Parliament was concerned this would lead to the imposition of an absolutist structure similar to that of Scotland. James dropped his policy of a speedy union, the topic disappeared from the legislative agenda while attempts to revive it in 1610 were met with hostility. This did