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Gross Value Added (GVA)
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 2015 gross value added (GVA) per head of population increased in all NUTS1 regions. The highest annual growth was in the North West at 3.0% and the lowest annual growth was in the East Midlands at 1.0%.
At the regional level, in 2015 London had the highest GVA per head at £43,629 while Wales had the lowest at £18,002.
The North West was also the fastest growing NUTS1 region in the UK in 2015 when looking at annual growth in total GVA (in millions of pounds). Total GVA in the North West grew by 3.6% in 2015. East Midlands had the lowest rate of growth in total GVA at 1.8% in 2015.