The total net worth of the United Kingdom at the end of 2011 was £6.8 trillion in current prices, according to the annual national balance sheet published today by the Office for National Statistics. This was an increase of £220 billion, or 3.3 per cent, on 2010 values. It equates to approximately a net worth of £110,000 per head of the population.
Households and non-profit institutions remained the sector with the highest net worth in 2011 – in fact, at £7.0 trillion it was actually bigger than the overall worth of the country. This was possible as other sectors had negative net worth, the largest of these negative valuations being for central government at -£763 billion.
Dwellings remained the most valuable asset at £4.3 trillion, or 63 per cent of the total net worth. This was up £20 billion, or 0.5 per cent, on the 2010 value, although it was still below the value that the nation’s dwellings were worth in 2007. The value of dwellings belonging to households and non-profit organisations was £4.1 trillion, 95 per cent of the total value of dwellings.
All the sectors of the economy have seen an increase in total net worth between 2010 and 2011 except central government which saw a decrease of nearly 40 per cent compared with the previous year. While there was an increase in non-financial assets for central government this was offset by a decrease of £240 billion in the value of financial assets, mainly due to central government’s increased liabilities.
A more detailed statistical bulletin can be found on the ONS website.
The population estimate used to derive net worth per head is consistent with the 2010 mid-year population estimates, at 62 million, published on the ONS website.
National Statistics are produced to high professional standards set out in the Code of Practice for Official Statistics. They undergo regular quality assurance reviews to ensure that they meet customer needs. They are produced free from any political interference.
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