Gross Value Added by component, Welsh NUTS2 areas and year
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Title
Sub-regional Gross Value Added by Welsh NUTS areasLast update
19 December 2018Next update
December 2019Publishing organisation
Welsh GovernmentSource 1
Regional Accounts, Office for National StatisticsContact email
economic.stats@gov.walesDesignation
National StatisticsLowest level of geographical disaggregation
EU NUTS3 regionsGeographical coverage
WalesLanguages 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
Regional GVA for Wales is allocated to NUTS2 and NUTS3 areas within Wales, by industry, using workplace-based data.. Three different measures are available for each area, namely the GVA amounts in £ million, GVA per head and GVA per head indexed to UK = 100.Data collection and calculation
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. The GVA (B) estimates are currently classed as “experimental statistics”.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
1997 to 2017Rounding applied
Figures are rounded and so there may be some apparent slight discrepancies between the sum of constituent items and the totals as shown.Revisions information
Revision, 19th December 2018: We have revised the Sub-regional Gross Value Added by Welsh NUTS areas table following ONS’ discovery that the methodology used to break balanced gross value added (GVA) estimates down from NUTS2 to NUTS3 level produces different results when applied to the detailed industry composition and to the components of income. ONS believe the industry composition is the stronger version, since it uses a more granular make-up and a virtual census of administrative data to inform the allocation. ONS have therefore rationalised the total GVA and GVA per head estimates at NUTS3 level to use the industry-based version, and have withdrawn the components of income from the NUTS3 dataset. This only affects NUTS3-level data, and only the data published in the nominal GVA per head and income components tables.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.Sub-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 sub-regional GVA at basic prices presented here are consistent with the 2015 edition of UK National Accounts - The Blue Book.
