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UK Non-Financial Business Economy, 2012

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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

  • 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.

  • Data for the Insurance and Reinsurance industries have been removed from this release following discussions with key users. This experimental series was previously included in the results for reference years 2008 to 2011 and covered a small part of the Financial and insurance sector. It has been removed due to ongoing volatility while a more detailed quality assessment is undertaken. As such results in this release cover the UK Non-Financial Business Economy rather than the UK Business Economy. This does not affect other industries.

 

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
Content from the Office for National Statistics.
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