The economy of Scotland is the 43rd largest in the world with a nominal gross domestic product (GDP) of $233.332 billion per annum. As of 2016, Scotland is the second-largest economy in the United Kingdom, and the twelfth-largest economy in the 28-member European Union. Since the Acts of Union 1707, Scotland's economy has been closely aligned with the rest of the UK's economy. England has historically been the main trading partner of Scotland, making it vulnerable to rapid changes in the English economy. However, since Scotland became part of the European Union (as a constituent nation of the UK) it has gained closer ties to other European Union economies, reducing its economic dependence on the UK. In addition, membership of the EU has drawn an influx of foreign investors attracted by Sco