Nova Scotia is Latin for 'New Scotland,' so the Chinese name follows the etymology rather than translating:
新 ('new') +
斯科舍 (phonetic for 'Scotia'). Compare
苏格兰 (Sūgélán, Scotland) which uses a different transliteration — Chinese keeps Latin and English forms phonetically separate. Nova Scotia is famous for the Bay of Fundy tides, lobster, and the 1917 Halifax Explosion.