This is a short podcast looking at the 2012 results for Regional Gross Value Added, known as GVA.
GVA is the amount generated by economic activity in an area. It is equivalent to GDP less taxes and subsidies on products.
The UK as a whole generated over 1 point 3 billion pounds in 2012.
In order to compare regions of different sizes, we divide this figure by the population to get GVA per head.
In 2012, the average amount of GVA per head in the UK was just over 21 and half thousand pounds.
This can vary from region to region as shown on this map. The map is shaded with darker regions having higher GVA per head than the lighter regions. Although London had the highest GVA per head, the South East had the highest growth. GVA per head in the South East was 23 thousand pounds. This was an increase of 2.5 per cent in 2012.
East Midlands had the lowest growth in 2012. GVA per head in East Midlands was just under 17 and a half thousand pounds which was a decrease of -0.7% per cent in 2012.
Within each region there can be a range of GVA Per head within it's constituent local areas. For example within London the local areas range from a high of over £120 thousand pounds per head in Inner London West to just under £14 thousand pounds in Outer London East & North East .
The least variation within a region is found in the North East, from a high of just over 20 thousand pounds per head in Darlington to the lowest in Northumberland of just over £12 thousand pounds.
For more information, search for Regional GVA on the ONS website.