The economy of Scotland is closely linked with the rest of Europe, and is essentially a mixed economy. Scotland has the fourth largest GDP per capita of any region of the United Kingdom after London, South East of England and East of England.
Scotland was one of the industrial powerhouses of Europe from the time of the Industrial Revolution onwards, being a world leader in manufacturing and shipbuilding related industries, at the time, which today has left a legacy in the diversity of goods and services which the Scottish economy produces from textiles, whisky and shortbread to aeroengines, buses, computer software, ships, avionics and microprocessors to banking, insurance, fund management and other related financial services.
The British Pound Sterling is the official currency of Scotland, and the central bank of the UK is the Bank of England which retains responsibility for the monetary policy of the whole of the United Kingdom.