Regional gross value added using production (GVA(P)) and income (GVA(I)) approaches. Regional gross value added is the value generated by any unit engaged in the production of goods and services. GVA per head is a useful way of comparing regions of different sizes. It is not, however, a measure of regional productivity.
In November 2018, the balanced measure of regional gross value added (GVA), along with both of its constituent parts, was awarded National Statistics status, following an assessment by the Office for Statistics Regulation.
In 2017, GVA for the UK, in chained volume measures, increased by 1.9%; the highest annual “real” growth of NUTS1 areas was in London at 3.0% and the lowest annual growth was in Yorkshire and The Humber at 0.7%.
GVA for the UK in current basic prices grew by 3.6% between 2016 and 2017; the highest annual nominal growth of NUTS1 areas was in London at 4.2% and the lowest annual growth was in the North East at 1.4%.
Annual estimates of economic activity by UK country, region and local area using balanced regional gross value added (GVA(B)). Estimates are available in current basic prices and in chained volume measures.