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

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  • Release date: 18 December 2014
  • Period covered: 1998 to 2012
Data produced by the Office for National Statistics, which show estimates of economic output at three geographical levels.

Production approach

Release date: 18 December 2014

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 2012 GVA grew in real terms by 30 per cent in Wales. The increase in Wales was the 7th highest of the twelve UK countries and regions. London had the highest growth at 53 per cent; West Midlands the lowest at 19 per cent.
  • Between the recent trough in GVA in 2009 and 2012, GVA grew in real terms by 3.8 per cent in Wales, the 6th highest of the UK countries and regions. Within this period of growth, between 2011 and 2012, GVA in Wales fell back by 2.8 per cent, the largest fall across the UK.
  • West Wales and the Valleys had GVA growth in real terms of 26 per cent between 1998 and 2012 compared to 34 per cent for East Wales.
  • Between 2011 and 2012 real GVA in East Wales fell by 2.4 per cent compared to 3.1 per cent for West Wales and the Valleys.

Income approach

Release date: 10 December 2014

Key points

  • Total workplace GVA in Wales in 2013 was £52.1 billion, up 3.7 per cent on 2012, GVA for the UK (excluding extra-regio) rose by 3.3 per cent.
  • Workplace GVA per head in Wales in 2013 was £16,893, up 3.4 per cent on 2012, whilst GVA per head for the UK (excluding extra-regio) rose by 2.6 per cent.
  • Workplace GVA per head in Wales in 2013 was 72.2 per cent of the UK average, the lowest amongst the devolved countries and English regions. This was up 0.5 percentage points over the year.
  • The workplace based NUTS2 estimates for 2013 show GVA per head in East Wales and West Wales and the Valleys at 87.7 per cent and 63.1 per cent of the UK average respectively.
  • The Isle of Anglesey was the NUTS3 area with the lowest GVA per head in the UK in 2013 (at 48.6 per cent of the UK less extra-regio average per head), whilst Cardiff and the Vale of Glamorgan are ranked the highest NUTS3 area in Wales and 34th (of 139 NUTS 3 regions) in the UK.

Residence based GVA estimates have not been published by the ONS for 2013, due to a delay in receiving component data. It is currently unknown if residence based estimates will be published at a later date. Residence based GVA would typically be higher than workplace GVA in areas where there is a net commuting outflow.

Data will be added to the StatsWales website shortly.

Contact

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

Details

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