Statistics on the size of regional/country and local economies, recent economic growth in these areas, their contribution to total UK economic output, and comparisons of their living standards.
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This briefing paper provides an overview of annual statistics on the economies of the UK’s regions/countries and local areas. There is analysis of recent economic growth rates, for 2015 as well as since 2010, and 1997. In addition to overall growth rates, figures for economic output per head are included (including in two maps at the back of the briefing) to provide rough comparisons of living standards by local areas.
Economic output here is measured using Gross Value Added (GVA), which is similar to GDP. Growth figures are not adjusted for inflation. Some key figures:
- In 2015, London’s GVA of £378 billion accounted for 22.9% of UK GVA (£1,651 billion), with the South East contributing a further 15.1%.
- The North West saw the highest annual growth in 2015 of 3.6%, compared with the UK figure of 2.9%. The lowest rate of growth was seen in the East Midlands at 1.8%.
- From 2010 to 2015, London saw the fastest growth at 27.1% over this whole period, followed by the South East at 19.5%. Slowest growth was in Northern Ireland (10.9%) and Yorkshire & the Humber (12.8%). The UK average was 19.0%. The chart below shows figures for all regions/countries.
- In 2015, London had the highest GVA per head, 72% above the UK average and more than double that of 6 of the remaining 11 regions and countries of the UK.
- The top 5 local areas with the highest GVA per head are in (mostly central) London. This at least in part reflects the large numbers of commuters who work there.
- Between 2010 and 2015, Hounslow and Richmond upon Thames (+34%), followed by Ealing (+32%) and Solihull (+25%) had the biggest increases in GVA per head. The only area which saw a fall was Outer Belfast (-1%), while four areas – Portsmouth, Great Manchester South East, Liverpool and Sefton – had a 1% increase. The overall change in UK GVA per head over this time was +15%.
Local growth data
A spreadsheet containing information on 2015 GVA per head and how its changed since 2010 for the local area of your choice (along with the region/country it is in and the UK) is also available from the accompanying Excel file.