Size and growth of the UK non-financial business economy as measured by the Annual Business Survey (ABS), and the value of e-commerce and the adoption and use of information and communication technologies (ICTs) by UK businesses.
In May 2022, half (50%) of businesses currently trading reported that the prices of goods or services bought had increased from April 2022, while 21% reported that prices sold had increased across the same period; both figures have remained stable since March 2022.
In late June 2022, 35% of businesses reported their production and/or suppliers had been affected by recent increases in energy prices, up from 33% reported in early May 2022.
Among currently trading businesses, 30% expect to increase the price of goods or services they sell in July 2022, with energy prices continuing to be reported as the main factor for considering doing so, at 42%.
In 2020, approximate gross value added at basic prices (aGVA) of the UK non-financial business economy was estimated to be £1,194.9 billion; a decrease of £117.9 billion (9.0%) compared with 2019.
The non-financial services sector, which accounted for over half (56.9%) of total aGVA in 2020, decreased by £67.9 billion (9.1%) to £679.7 billion; transport and storage saw the largest decrease in aGVA of £20.6 billion (22.6%) decreasing from £91.3 billion to £70.7 billion.
Total turnover and purchases of the UK non-financial business economy were estimated to be £3,580.9 billion and £2,358.3 billion respectively; a decrease of £515.6 billion (12.6%) and £398.4 billion (14.5%) compared with 2019.
The indicators and analysis presented in this article are based on selected responses over time from the new voluntary fortnightly business survey, which captures businesses responses on how their turnover, workforce, prices, trade and business resilience have been affected in the two week reference period. This data relates to the period 23 March 2020 to 17 May 2020 (Wave 2 to Wave 5).
Annual data on business turnover, approximate gross value added (aGVA), purchases and employment costs, from the Annual Business Survey. Two-digit Standard Industrial Classification 2007 group by region or country.
Annual estimates of the number of foreign-owned businesses, turnover and approximate gross value added (aGVA) in the UK non-financial business economy for 2019, and revised estimates for 2018, from the Annual Business Survey (ABS).