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
Treaty of Union void. The following commissioners were appointed to negotiate the Treaty of Union: Treaty of Union The Treaty of Union is the name usually now given to the agreement which led to the creation of the new state of Great Britain, stating that England (which already included Wales) and Scotland were to be "United into One Kingdom by the Name of Great Britain", At the time it was more often referred to as the Articles of Union. The details of the Treaty were agreed on 22 July 1706, and separate Acts of Union were then passed by the parliaments of England