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Gross Value Added (income approach)

11 May 2017

Gross value added (GVA) is a measure of the increase in the value of the economy due to the production of goods and services. It is measured at current basic prices, which include the effect of inflation, excluding taxes (less subsidies) on products (for example, Value Added Tax). GVA plus taxes (less subsidies) on products is equivalent to gross domestic product (GDP). In 2015 the GVA for Kirklees was £7.2bn which represents less than 1% of the England total of £1.433tn. Kirklees GVA per head is £16,594 (England £26,159). Nationally, Westminster has the highest GVA per head (£221,103) with Blaenau Gwent the lowest at £10,980. In 1997 manufacturing accounted for 28% of GVA in Kirklees (England 17%), by 2015 this had shrunk to 18.3% (England 9.7%).

The GVA(I) estimates presented here are on a workplace basis (allocated to the location where the economic activity takes place).

GVA(I) per head of population is a useful way of comparing regions of different size and is an important indicator for both domestic and European policy purposes. Total GVA(I) estimates in millions of pounds (£m) are divided by the total resident population of a region (including the economically inactive) to give GVA per head in pounds (£).

While GVA(I) per head can be a useful way of comparing regions of different size, comparisons can be affected by commuting flows into or out of the region. Small areas, such as local authorities, can be subject to very large distortions and this should be borne in mind when interpreting the statistics as an indicator of relative economic prosperity. GVA per head is not a measure of productivity. Source of narrative is Nomis.

 
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