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
Constitution of the United Kingdom two Acts of Union which were passed by the Parliaments of both nations. The Treaty, along with the subsequent Acts, brought into existence the Kingdom of Great Britain, uniting the Kingdom of England and the Kingdom of Scotland. Common law legal systems exist in Northern Ireland and in England and Wales, but not in Scotland which has a hybrid system (see Scots law) which includes a great deal of Common Law. Court judgments also commonly form a source of the constitution: generally speaking in English Law, judgments of the higher courts form "precedents" or "case law" that binds lower courts