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
Union of England and Scotland Act 1603 Union of England and Scotland Act 1603 The Union of England and Scotland Act 1603 (1 Jac. I c.2), full title "An Act authorizing certain Commissioners of the realm of England", was an Act of Parliament of the Parliament of England enacted during the reign of King James I. It appointed a commission led by the Lord Chancellor, Lord Ellesmere, to meet and negotiate with a commission which would be appointed by the Parliament of Scotland. The aim of the discussions was to look into the possibility of arranging a formal political union between England and Scotland, going beyond the