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. Scotland was one of the industrial powerhouses of Europe from the time of the Industrial Revolution onwards, being a world leader in manufacturing.
Scotland has seen a decline in the importance of both manufacturing industries and primary-based extractive industries. This has, however, been combined with a rise in the service sector of the economy, which has grown to be the largest sector in Scotland. The governments which involve themselves in Scotland's economy are largely the central UK Government (responsible for reserved matters) and the Scottish Government (responsible for devolved matters) via HM Treasury.