Scotland's wildlife is typical of the north west of Europe, although several of the larger mammals such as the Lynx, Brown Bear, Wolf, Elk and Walrus were hunted to extinction in historic times. There are important populations of seals and internationally significant nesting grounds for a variety of seabirds such as Gannets. The Golden Eagle is something of a national icon.

On the high mountain tops species including Ptarmigan, Mountain Hare and Stoat can be seen in their white colour phase during winter months. Remnants of the native Scots Pine forest exist[85] and within these areas the Scottish Crossbill, Britain's only endemic bird, can be found alongside Capercaillie, Wildcat, Red Squirrel and Pine Marten. In recent years various animals have been re-introduced, including the White-tailed Sea Eagle in 1975, the Red Kite in the 1980s, and more recently there have been experimental projects involving the Beaver and Wild Boar.

The flora of the country is varied incorporating both deciduous and coniferous woodland and moorland and tundra species. However, large scale commercial tree planting and the management of upland moorland habitat for the grazing of sheep and commercial field sport activities impacts upon the distribution of indigenous plants and animals. The UK's tallest tree is the Stronardron Douglas Fir located in Argyll, and the Fortingall Yew may be 5,000 years old and is probably the oldest living thing in Europe. Although the number of native vascular plants is low by world standards, Scotland's substantial bryophyte flora is of global importance.

Scotland has a western style open mixed economy which is closely linked with that of the rest of Europe and the wider world. Traditionally, the Scottish economy has been dominated by heavy industry underpinned by the shipbuilding in Glasgow, coal mining and steel industries. Petroleum related industries associated with the extraction of North Sea oil have also been important employers from the 1970s, especially in the north east of Scotland. De-industrialisation during the 1970s and 1980s saw a shift from a manufacturing focus towards a more service-oriented economy. Edinburgh is the financial services centre of Scotland and the sixth largest financial centre in Europe in terms of funds under management, behind London, Paris, Frankfurt, Zurich and Amsterdam,[98] with many large finance firms based there, including: Lloyds Banking Group (owners of the Halifax Bank of Scotland); the Government owned Royal Bank of Scotland and Standard Life.

In 2005, total Scottish exports (excluding intra-UK trade) were provisionally estimated to be £17.5 billion, of which 70% (£12.2 billion) were attributable to manufacturing. Scotland's primary exports include whisky, electronics and financial services. The United States, The Netherlands, Germany, France and Spain constitute the country's major export markets. In 2006, the Gross Domestic Product (GDP) of Scotland (excluding oil and gas production from 'Scottish' waters) was just over £86 billion, giving a per capita GDP of £16,900.

Tourism is widely recognised as a key contributor to the Scottish economy. A briefing published in 2002 by the Scottish Parliament Information Centre, (SPICe), for the Scottish Parliament's Enterprise and Life Long Learning Committee, stated that tourism accounted for up to 5% of GDP and 7.5% of employment.

As of May 2009 the unemployment rate in Scotland stood at 6.6% slightly lower than the UK average and lower than that of the majority of EU countries.

The most recent government figures (for 2006/7) suggest that Scotland would be in budget surplus to the tune of more than £800m if it received its geographical share of North Sea revenues. The net fiscal balance, which is the budget balance plus capital investment, reported a deficit of £2.7 billion (2.1% of GDP) including Scotland's full geographical share of North Sea revenue, or a £10.2bn deficit if the North Sea share is excluded.

Although the Bank of England is the central bank for the UK, three Scottish clearing banks still issue their own Sterling banknotes: the Bank of Scotland; the Royal Bank of Scotland; and the Clydesdale Bank. The current value of the Scottish banknotes in circulation is £1.5billion.