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Regional gross value added (GVA) and sub-regional gross value added

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  • Release date: 18 December 2013
  • Period covered: 1998 to 2011
  • Next update: December 2014
Data produced by the Office for National Statistics, which show estimates of economic output at three geographical levels.

Income approach

Release date: 11 December 2013

Key points

  • Total workplace GVA in Wales in 2012 was £47.3 billion, up 1.9 per cent on 2011, GVA for the UK (excluding extra-regio) rose by 1.7 per cent.
  • Workplace GVA per head in Wales in 2012 was £15,401, up 1.6 per cent on 2011, whilst GVA per head for the UK (excluding extra-regio) rose by 1.0 per cent.
  • Workplace GVA per head in Wales in 2012 was 72.3 per cent of the UK average, the lowest amongst the devolved countries and English regions. This was up 0.4 percentage points over the year.
  • Residence based GVA in Wales was £48.6 billion, up 2.0 per cent on 2011. This was £15,799 per head, up 1.6 per cent. Relative to the UK average per head, residence based GVA in Wales was 74.0 per cent, the lowest amongst the devolved countries and English regions and was up 0.5 percentage points over the year.
  • The workplace based NUTS2 estimates for 2012 show GVA per head in East Wales and West Wales and the Valleys at 88.8 per cent and 62.7 per cent of the UK average respectively.

Methodological changes have been introduced in the 2013 publication by the ONS. The principal change was the introduction of independent measures of residence and workplace compensation of employees, using only data collected on the appropriate basis. A further change improved the regional allocation of gross trading profits through the use of data from the Annual Business Survey.

Production approach

Release date: 18 December 2013

These estimates are experimental and last weeks GVA (income based) figures [GVA(I)] should be regarded as the official GVA estimates. The estimates published by the ONS today show GVA in ‘real’ terms (using Chained Volume Measures, CVM) using the production approach [GVA(P)]. Where the GVA(P) results differ significantly from the existing GVA(I) measure, the latter should take precedence. GVA(P) current price estimates are included in the ONS publication to enable users to compare the two current price measures directly. For more information see the ONS website.

Key points

  • Between 1998 and 2011 GVA grew in real terms by 16.7 per cent in Wales. The increase in Wales was the 3rd highest of the UK countries and regions behind London and Northern Ireland.
  • Between 2010 and 2011 GVA grew in real terms by 5.3 per cent in Wales. The increase in Wales was the highest of the UK countries and regions.
  • West Wales and the Valleys had GVA growth in real terms of 12.9 per cent between 1998 and 2011 compared to 22.1 per cent for East Wales.
  • Between 2010 and 2011 real GVA in East Wales grew by 6.7 per cent compared to 4.3 per cent for West Wales and the Valleys.

Contact

Tel: 029 2082 5017
Email: economic.stats@wales.gsi.gov.uk

Details

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