Gross Value Added by area and component
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Title
Regional Gross Value Added by componentLast update
23 December 2019Next update
December 2020Publishing organisation
Welsh GovernmentSource 1
Regional Accounts, Office for National StatisticsContact email
economic.stats@gov.walesDesignation
National StatisticsLowest level of geographical disaggregation
UK regionsGeographical coverage
UK regionsLanguages covered
English and WelshData licensing
You may use and re-use this data free of charge in any format or medium, under the terms of the Open Government License - see http://www.nationalarchives.gov.uk/doc/open-government-licenceGeneral description
This dataset gives Gross Value Added (GVA) figures for UK regions, they include revisions to the figures published for the period 1998 to 2018 in December 2019.Data collection and calculation
The dataset provides a breakdown of workplace-based regional GVA into the components of compensation of employees, other and total. Three different measures are available for each component, namely the GVA amounts in £ million, GVA per head and GVA per head indexed to UK = 100.Regional GVA is calculated at current basic prices using the balanced approach. In 2017, the ONS used both the Income and the Production approach, to produce a single estimate of GVA known as the balanced (GVA (B)) approach. More details on how this has been developed and calculated can be found in their consultation response, which Knowledge and Analytical Services contributed to.
Data using the income approach is still available. This approach adds up all the income earned by resident individuals or corporations in the production of goods and services and is therefore the sum of uses in the generation of income account for the total economy (or alternatively the sum of primary incomes distributed by resident producer units) (National Accounts Concepts, Sources and Methods p206).
Frequency of publication
AnnualData reference periods
1998 to 2018Rounding applied
Figures are rounded and so there may be some apparent slight discrepancies between the sum of constituent items and the totals as shown.Statistical quality
Under the European System of Accounts 1995 (ESA95), the term Gross Value Added (GVA) is used to denote estimates that were previously known as Gross Domestic Product (GDP) at basic prices. Under ESA95 the term GDP denotes GVA plus taxes (less subsidies) on products i.e. at market prices. Regional Accounts publish figures at basic prices so have adopted the term GVA rather than GDP.Regional GVA is measured in current prices, which means that increases over time reflect inflation as well as real growth. Trends in total or per head GVA cannot be analysed easily without deflating the data. However, there are no regional price indices that could be used to remove the effect of inflation from the figures. Comparison of trends can therefore be based either on the difference between regional increases at current prices or on movements relative to the UK average. Both approaches would be misleading if the rate of inflation in any region were different from the UK average.
Estimates of regional GVA at basic prices presented here are consistent with the 2015 edition of UK National Accounts - The Blue Book.
