Saturday, March 23, 2019

Scotland's Worth

Natural resources in Scotland have been valued at one-third of the UK’s total.

 The research, by the Office of National Statistics, examined the value or profit provided by natural resources such as wind, water, oil and gas, and how they are used. 

The partial-asset value of Scottish natural capital was estimated to be £273 billion – 34 per cent of the UK as a whole – in 2015.

Renewable energy is the fastest-growing natural resource consumed in Scotland, while oil and gas production has halved in less than two decades.

 Electricity generated from renewable sources was five times higher in 2017 than at the turn of the millennium and now accounts for more than half of all the country’s energy production. 

Wind is the largest producer of electricity from renewable sources, overtaking hydropower as the main source of renewable energy in 2010. It accounted for 68 per cent of the electricity generated from renewables up to 2017.

Oil and gas production has steadily fallen since 1998, dropping 58 per cent in less than two decades. In 2017, combined oil and gas production in Scotland was 
73.7 million tonnes of oil equivalent, down from 
176.6 million tonnes.

The fish caught in Scottish waters has reached record numbers. The amount of fish captured in 2016 was more than two-thirds higher than in 2003 – a 70 per cent increase from 628.2 thousand tonnes to 1,065.2 thousand tonnes. 
There was an annual expansion in fish capture of nearly 35 per cent in 2014 and an increase of 14 per cent in 2016. 

Scottish commercial property attracted more investment last year from wealthy overseas investors than France, Japan and South Korea.  total investment from “internationally-based ultra-high-net-worth individuals” in Scottish commercial property totalled some $376.3 million (£283.6m) in 2018. The figure for France was about $360m, Japan came in at $110m, while South Korea was just $10m. Scotland was placed eighth globally for cross-border private capital investment in commercial property, such as offices, shops and industrial sites, behind Canada at $770m.

Jenners’ historic department store on Edinburgh’s Princes Street was bought by a Danish investor for £53m.

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