News / Shetland leads in growth
Shetland was the local authority area with the highest growth rate in Scotland in 2011, according to provisional estimates from Inverness-based Mackay Consultants.
While growth in Scotland is expected to have been below one per cent in 2011, the economy in Shetland grew by about two per cent.
Tony Mackay of Mackay Consultants said figures may have to be revised downwards a little once official statistical data become available later this spring.
In his monthly economic report Mr Mackay said: “The three areas with the highest growth rates in 2011 were Shetland, Aberdeen City and Aberdeenshire.
“The main reason for that is clearly the North Sea oil and gas industry, which has had a surprisingly good year, partly because of high oil prices.
“A new gas processing terminal is currently under construction at Sullom Voe in the Shetland Islands, which has boosted the local economy.”
Shetland’s unemployment rate at 1.3 per cent was also the lowest in all 32 Scottish local authority areas.
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