Business Outputs and Developments Division
Telephone: +44 (0)1633 455107
Categories: Business and Energy, Production Industries, Primary Production, Manufacturing, Energy Production and Consumption, Water and Sewage, Building and Construction, Services, Retail and Distribution, Business Services, Creative and Leisure Activities, Personal Services
Frequency of release: Annually
Geographical coverage: UK
Geographical breakdown: UK
In 2012, the income generated by businesses in the UK, less the cost of goods and services used to create this income was estimated to be £947.7 billion. This amount represents the approximate Gross Value Added at basic prices (aGVA) of the UK Non-Financial Business Economy.
Between 2011 and 2012, aGVA increased by 1.2% (£11.3 billion). This increase is a continuation of the recovery seen between 2009 and 2011 and takes aGVA to a level 4.2% (£38.1 billion) above that seen in 2008, at the start of the recession.
The Non-Financial Service sector, which accounts for over half of aGVA in the UK Non-Financial Business Economy, contributed most to the increase in aGVA rising 6.4% (£30.5 billion) between 2011 and 2012. This is the third consecutive annual increase, taking it to £67.8 billion above the level seen in 2008.
In Distribution and Production there was a fall in aGVA between 2011 and 2012, for the first time since 2009, due to purchase costs increasing at a higher rate than turnover.
These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.