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Regional Gross Value Added highest in London in 2012

ONS release interactive products and podcasts on latest GVA(I) data updates

The complete set of regional gross value added income approach (GVA(I)) per head data has been published by ONS; this takes into account the latest 2011 Census consistent Scottish population estimates. There’s a video on regional GVA per head estimates, which looks at the highest and lowest performers, as well as a video on regional GVA per head indices which compares regional performance against the UK average.

The latest figures from the ONS regional GVA(I) release  for 2012 show that the regional GVA(I) per head increased in all but one region between 2011 and 2012. The exception was the East Midlands which decreased by 0.7%. ONS data shows that the UK has surpassed the pre-downturn GVA(I), with GVA(I) varying greatly across the UK. A complete set of regional GVA estimates can be found in the reference tables.

What are the regional GVA(I) estimates telling us?

Regional Gross Value Added (GVA) estimates give a measure of the increase in the value of the economy due to the production of goods and services for each region of the UK.  The regional estimates published in December are measured using the income approach (GVA(I)) which involves adding up the income generated in the production of goods and services, for example wages and profits.

The regional GVA(I) estimates allow us to compare the different regions of the UK in terms of the value they are adding to the UK economy. Some regions of the UK have higher populations than others so when comparing the regional GVA estimates we divide the regional GVA by the regional population, this gives GVA per head for each region.

To compare different regions of the UK, ONS has published an interactive map. Users can select local areas and see how each area’s GVA(I) compares with its neighbour. Searchable by postcode, the map will show a selected area ranked against the rest of the UK.

How did GVA vary across regions?

Looking across the UK regions, London always tends to have the highest regional GVA per head figures due to the amount of business and industry located there. In 2012 London had £37,232 GVA per head. In contrast the region with the lowest GVA per head was Wales which had just £15,401.

At local area level, Inner London - West had the highest GVA(I) per head of population, at £127,127. The Isle of Anglesey had the lowest GVA per head, at £10,364.

To focus on a region’s performance over time, or to track the regional activity in specific industries, ONS have released interactive motion charts. There is a regional interactive chart and a local area interactive chart which show regional performance over time or activity in specific industries. These motion charts allow selection of regions and industries to see their progress as either a ‘bubble’ chart, ranked bar chart, or line chart. There’s even a short video to help use the charts.

Where can I find out more about regional GVA statistics?

These statistics were analysed by the Regional Accounts team at ONS. The analysis was based on data from the regional GVA(I) release, carried out by ONS. If you would like to find out more about regional GVA(I), you can read the reference tables view the interactive map, the regional motion chart or local motion chart or view the GVA per head estimate video and GVA per head indices video. If you have any comments or suggestions, we would like to hear them. Please email us at: regionalaccounts@ons.gsi.gov.uk.

Categories: Regional GVA, Regional Accounts, National Accounts, Economy
Content from the Office for National Statistics.
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