The economy of Scotland had an estimated GDP of $205 billion in 2020. This includes oil and gas extraction in Scottish waters.  Scotland's economy has been closely aligned with the economy of the rest of the UK) and England has been its main trading partner. In 2017, Scotland's exports totalled £81.4 billion, of which £48.9 billion (60%) was with rUK, £14.9 billion with the EU, and £17.6 billion with other parts of the world.

All of the plausible negotiating strategies represent clear advantages for an independent Scotland.  Even the least advantageous (the Annual Solidarity Payment) presents a scenario where Scotland would save around £1.5 billion per year in debt interest payments compared to that currently assigned to Scotland in GERS.

With every passing election, Scotland seems to move closer to independence. Investment Monitor explores the obstacles the country would face should it leave the UK.

The possible financial costs and risks, or savings and opportunities, of implementing a new constitutional framework are, naturally, not considered in GERS. Similarly, it does not report on the effects of faster or slower economic growth in an independent Scotland.

When you compare the map of where the wealth ends up with a map of where the UK’s wealth is generated, the union drains wealth from Scotland.

Estimated total expenditure for the benefit of Scotland by the Scottish Government, UK Government, and all other parts of the public sector was £99.2 billion. Spending increased by 21.0%, reflecting the costs of the health and wider economic interventions in response pandemic. This is equivalent to 9.1% of total UK public sector expenditure, or £18,144 per person, which is £1,828 per person greater than the UK average.